The European Banking Authority (EBA) rectified the solvency figures for the Spanish banking sector. The regulatory authority has raised the average “fully-loaded” capital ratio at end-June to 10% from a previous 9%. This compares with the European sector average of 11.8%
Santander 3Q results
BARCLAYS | Although Q3 numbers were in line with expectations we remain cautious on the outlook, particularly in Brazil but with the other major geographies of Spain and the UK also facing earnings headwinds. In addition, limited capital generation in the quarter reaffirms our view that Santander’s weak capital position is a hindrance to a re -rating of the shares.