MADRID | February 24, 2015 | By Carlos Díaz Güell | Spanish banks’ NPLs rate went down by 1.1% in 2014 standing at 12.5% thanks to the sharp fall of the delinquency rate (12.5% year on year) that offset the impact of banks’ reducing their lending activity. In fact, if lending had remained stable in 2014 (it went down by -4.6%), the default rate would have been of 11%.
MADRID | The Corner | Spanish exports continue to grow, posting an annual rise of 2.5% in 2014, according to figures released on Wednesday, exceeding €240 billion for the first time. The country’s trade deficit currently stands at €24.5 billion, with imports rising by 8.3% year-on-year, leading to a 53.4% rise in the commercial deficit.
MADRID| Sean Duffy | Nobody knows how the Greece debt negotiations will turn out, but aren´t we all getting a little tired of the saga?
MADRID | The Corner | The purchase of large swathes of Spanish land by US hedge fund Lone Star is further compelling evidence that the Spanish property market is staging a recovery. This investment signifies that the improvement in the market will soon be seen in the residential sector, having previously been confined to the retails and commercial markets.
MADRID | By Francisco López | The successful launch of the Aena IPO has been interpreted as a sign of confidence in the recovery of the Spanish economy. The airport operator was floated last week and saw gains of 20.6%, but the headline grabbing investment from international funds such as BlackRock, Templeton, Fidelity or Capital Group has given credence to the sense that Spain is an increasingly attractive proposition for investors.
MADRID | The Corner | EU posts marginal growth stats, but the figures are indicative of slow pace of recovery.
MADRID | Sean Duffy | Yesterday brought positive data on the housing front and on job creation, with Spanish bank BBVA prediciting the economy will reap considerable benefits from the falling oil price.
MADRID | Sean Duffy | Third time may be a charm for Spanish group as IPO belatedly goes ahead on Wednesday.
MADRID | By Francisco López | Year 2014 was positive for Spanish banks (we haven’t seen Bankia and Liberbank results yet): they earned a total of 10 billion of euros, 27% more than in 2013. But ROE is still weaker.
MADRID | The Corner | Spanish Industrial Production figures proved disappointing on Friday, with results revealing that the sector had fallen 0.3% month-on- month and 0.9% year-on- year. The figures will be of some concern to the Finance Ministry given that the economy has recorded seven consecutive months of negative inflation.