Spain banking sector

Spain will impose a 5% tax on foreign and Spanish companies’ digital services

Spain Pushes Ahead A Regulatory Sandbox For The Banking Sector’s Digital Transformation

The draft law for the digital transformation of the financial system is a long-awaited measure by the banking sector. The project anticipates the implementation of a test bench or regulatory sandbox, which is instrumental in promoting innovation in financial services. It is also a tool for the competition authorities, as it allows for synchronization between supervisory practices and financial regulation and the current pace of innovation and digital transformation.


Spanish Financial Sector: Digitalisation Helps Profits

Ofelia Marín-Lozano | The Spanish financial sector has made an unprecedented effort to sanitise its books: since the beginning of the crisis in 2008, sanitising and provisions (amounting to some 260 billion euros) have reduced profit margins by two thirds, according to figures from the latest annual meeting of the financial sector. The role of digitilisation replacing branches was one of the recurrent themes of the meeting.

Bankinter's profits increased by 7% in the first nine months of the year

What if they had all been just a little bit more like Bankinter?

Bankinter, the best Spanish bank, amazed us with its spectacular results during the crisis and continues to do so now. It’s proof that things can be done with maximum prudence, security and moderation, without being pulled along by prevailing bubbles. Bankinter was always cautious about adventures. In the years prior to the eruption of the crisis it established the bases to prevent it from being carried away by what was a catastrophe.

Bank of Spain 800x400

Spain’s Banking Sector Would Cut Costs By Up To 27% With Mergers

The Spanish banks could use mergers to achieve cost savings of up to 27%, due the increase in asset volumes these transactions would bring. The entities emerging from these tie-ups with over 200 billion euros in assets would cut costs between 8% and 27%, while those with 50-100 billion euros in assets could save between 4% and 20%, according to the latest edition of think-tank Funcas’ bi-monthly Economic Information Journal.

Spain's economy minister

The Eurogroup presidency: A battle Spain cannot afford to lose

MADRID | June 11, 2015 | By Francisco López | The appointment of Spanish Economy Minister Luis de Guindos as president of the Eurogroup was a sure bet until the Dutch finance minister and current Eurogroup chief said he will stand for the post again. Possibly affected by this bad news, Mr De Guindos made a very unfortunate intervention about the Spanish banking sector’s restructuring.

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When Spain’s banking sector progresses, Europe Moves Forward Too

MADRID | By Julia Pastor | What is good for Spain is good for Europe. Certainly, while recognising that the country “has pulled back from severe problems in some parts of its banking sector, thanks to its reform and policy actions,” the European authorities’ fifth review does not omit the fact that this has been achieved “with the support of the euro area and broader European initiatives.”

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Spain banking sector, 4th in EU’s financial support; UK is first

MADRID | By Julia Pastor | The UK is the European country which has given more financial support to its banking sector with €82.000 millions since 2008, followed by Germany (€64.000 millions), Ireland with €63.000 and Spain with €60.000, according to an European Comission’s report.