MADRID | By Francisco López | The situation of the Spanish banking sector is still a recurrent topic in official EU meetings, especially now that we’re a little more than one month of knowing if an extension of the financial assistance program is required. ECB’s Chairman believes that Spanish banks will meet the stress tests in 2014, which seems to remove the possibility of a new aid injection. “Everything seems to suggest that Spain will approach this exercise well-equipped, but of course it is very difficult to guess what will happen with individual banks,” Draghi pointed out.
MADRID | By J.P. Marín Arrese | The summer break has delivered a much needed respite to Spanish banks, yet the forthcoming autumn will bring them a number of hurdles and potential pitfalls. For the author, the most worrying fact is the lack of ambition in performing a much needed restructuring.
MADRID | By Luis Alcaide | Álvaro Rengifo, board director at Bankia, said in a interview with The Corner that Spanish banks were ahead of their European counterparts in acknowledging the weaknesses in their balance sheets.
MADRID | By José Luis Marco, via capitalmadrid.com | The IMF in its latest paper about the banking industry in Spain admits some points could be excessive and damage the economic recovery of the country.
SANTANDER | By A. Laso | Spanish banks association’s president is optimistic about weak entities paying back future help packages after they are restructured into the private sector.
MADRID | By José Luis Marco at Capitalmadrid |The Bank of Spain considers that liquidity is no longer a problem and detects a greater international confidence on the country’s financial groups.
The Spanish Banking Association wants nationalised entities dismantled or sold, as the toxic legacy of the savings banks has become too poisonous for too long (with information from Ángel Laso, valenciaplaza.com correspondent in Madrid).
LONDON | Fitch expects that the sector’s restructuring efforts fuel the higher level of consolidation seen since the reforms started last year.
By Javier Niederleytners, professor at the Institute for Stock Exchange Studies IEB | Market pressure right now has relaxed over the country’s public debt and it seems to be a good moment to sell part of their bond holdings to cancel ECB loans.
The Spanish banks’ correction in February was 5.2 percentage points higher than the average in the eurozone.