Spain’s seven big banks registered net profit of 10.2 billion euros in the nine months to September, up 4.4% from a year earlier. Against a backdrop of low interest rates, corporate transactions have distored the banks’ global earnings.
spanish big banks
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.