spanish banks results

Spanish banks 's 2Q18 results season will start on July 25th

Spanish Banks Will Present Results Amidst Concerns Of Potential Bank Tax

Spain was a well-liked region within European banks until the new government came into place. As Morgan Stanley points in a note to investors, “the negative noise around a potential bank tax and the doubts on the fiscal plans have hit the sector.” Santander will kick off the 2Q18 results season on July 25th with all the eyes on its capital position and headwinds from Latam currencies. Issues like Turkey in BBVA and TSB in Sabadell have provided more downside to some of these names.


Banco Santander key markets

Spanish Banks’ Results: The Numbers Tell The Story

Regardless of the disappointments, the one-off items, a few little surprises and all kinds of explanations regarding their earnings and provisions, the so-called big banks’ results are what they are. And none of  them have anything to celebrate. They remain vulnerable and unable to reach cruising speed.