Sareb


No Picture

Spanish banks seek profits without lending

MADRID | By Francisco López | The purchase of Barclays’ retail banking division in Spain by CaixaBank has further accentuated the gap among the three major lenders (Santander, BBVA and Caixa) from the rest of their competitors. Experts insist on this process of bipolarisation of the Spanish banking system, with very big banks in the national and even international level, and other local, small or very specialised banks. All banks have done their homework with the restructuring, but now they face the most complicated challenge: to adapt their business models to the new scenario emerged after the crisis and become profitable again.



No Picture

Bank of Spain makes Sareb blush

MADRID | By Carlos Díaz Güell | The Spanish central lender ordered the national bad bank Sareb’s to assess the 107,000 toxic real estate assets again and 215,000 collaterals on loans that it purchased to the intervened financial entities. This new due dilligence ruined the work of 24 companies such as the property firm Richard Ellis, Clifford Chance’s lawyers and the consulting group KPMG.


Rescate banca

Healthy Spanish banks still have to pay €7.5bn for their peers

MADRID | By Julia Pastor | In the Spanish banks restructuring process, the €100 bn credit line coming from Brussels was crucial. However, Spain’s financial sector also saved itself by transferring €7.5 bn from the banks in better conditions to those that were nationalized, basically via contributions to the Deposit Guarantee Fund and the national bad bank Sareb. [Picture: “Banks should pay for the crisis”]



Minister Luis de Guindos

Spain’s bad bank may never turn good

MADRID | Dumping damaged assets at a price much below accounting value and cumulated provisions will entail large own resources imbalances for the banks taking part in the Sareb bank. JP Marín Arrese is sorry for taxpayers.