Articles tagged as: bbva

February 7th, 2014

Spain's large financial institutions also suffered plummeting home sales last year. In 2013, the total number of properties sold by the six largest banks and the Sareb stood at 78,448. Among them, the Santander Bank was highlighted, with its sales falling by more than 50%, from 33,500 in 2012 to ...

Continue reading Big Banks’ Home Sales Fell in 2013

December 11th, 2012

Banks have increased their offensive in order to reduce the volume of properties on their balance sheets, and are again giving mortgages worth more than 100% of the price or appraised value of a property. The BBVA, Popular and Sabadell banks, among others, are applying this practice, which is aimed exclusively ...

Continue reading Banks Return to Granting 100%+ Mortgages

November 6th, 2012

During the presentation of their quarterly results, the CEO of the BBVA bank, Ángel Cano, stated that the BBVA believes that the real estate sector in Spain still have a long way to go to make a recovery - a term that they reckon could last for the next three ...

Continue reading BBVA Expects Housing Sector to Recover in 3 Years

August 9th, 2012

The Spanish economy will shrink by 1.4% both in 2012 and in 2013 because of persistent financial strains and lack of concrete solutions at the EU level, says the BBVA. They further predict that the unemployment rate will touch 26% next year and are calling for Europe to reduce the ...

Continue reading BBVA Revises Forecast for Spanish Economy

July 18th, 2012

The General Workers’ Union (UGT) has complained that the restructuring of the savings banks will leave 4.8 million people with no bank branch in their area. The union estimates that 2,656 villages, which at present only have savings banks, will be left without any bank branches, which would mean financial ...

Continue reading Cajas Closures Will Leave 4.8 Million Spanish Without Local Branch

November 10th, 2011

BBVA said this week that the Spanish economy may fall into a new recession as they have "significantly" increased risk factors, while maintaining GDP growth at 0.8% this year and 1% for 2012, reported Cinco Dias. According to Spain's Situation Report by BBVA Research, the unemployment rate is bordering on 21.5% ...

Continue reading BBVA Warns of a New Spanish Economic Recession

September 9th, 2011

Despite the collapse of the housing sector, the decline in the profitability of Spanish debt and lack of credibility on the economy, the BBVA and Santander banks rank in the top four most creditworthy of the 50 largest banks in Europe. The author of the report is the credit rating ...

Continue reading BBVA and Santander Among the Most Creditworthy in Europe

August 25th, 2011

Europe boasts 30 banks among the safest in the world in 2011, and features in the top ten, despite the sovereign debt crisis. Santander, BBVA and Banesto are among the 50 safest banks worldwide, according to the ranking by Global Finance magazine, which in their 2011 edition is headed by the ...

Continue reading Santander, BBVA and Banesto Rank Among the 50 Safest Banks

July 18th, 2011

According to results released on Friday by the European Banking Authority (EBA), five of the eight European banks to fail the stress tests are Spanish. The Spanish banks who failed to reach the minimum capital levels required were the four small unlisted savings banks Grupo Caja3, CatalunyaCaixa, CAM and Unnim ...

Continue reading Spanish Banks Get Stress Tests Results

June 15th, 2011

According to a survey released last week by Goldman Sachs, the Spanish financial sector look set to have the worst results in the European banks’ stress tests. These results are due to be published next month. After interviewing 113 specialists they concluded that this is the opinion of the majority of ...

Continue reading Goldman Sachs Predicts Spanish Banks Will Fare Worst on Stress Tests

June 2nd, 2011

The former U.S. Federal Reserve President Paul Volcker has said that Europe needs a public institution that helps moderate large financial institutions when necessary, so that they cause least damage to the country's economy, as they have in the United States. Volcker made this statement during a conference on the ...

Continue reading Volcker Calls for New European Banking Authority

March 25th, 2011

Moody’s, the credit rating agency, has downgraded the senior debt and deposit ratings of 30 Spanish banks following its downgrade of the Spanish credit rating two weeks ago. The multiple downgrades announced on Thursday also reflect the declining systemic importance of smaller lenders and regional institutions, which has led Moody’s to ...

Continue reading Spanish Banks Resilient Despite Moody’s Downgrade

February 2nd, 2011

BBVA, the second largest bank in Spain, has announced a 9.4% yearly rise in net profits to 4.6 billion euros. While BBVA does have some exposure to real estate sector loans on its books, it says it now has "limited exposure to developers".

Continue reading BBVA Sees “Light at the End of the Tunnel” – Posts 9.4% Rise in Profits

February 1st, 2011

Spanish law came under the spotlight this week in two cases directly related to property in Spain. First, a bank in Cantabria attempted to evade its obligations regarding safekeeping deposits paid for off plan properties which were never completed. Property developers use an ‘Aval Bancario’ - a bank guarantee - to protect ...

Continue reading Spanish Property Law Under Scrutiny

January 28th, 2011

In what could be the beginning of a change in Spanish law, a judge in Navarra has ruled that the proceeds gained from the sale of a property repossessed by a bank should be sufficient to clear the former owner's debt. Under current Spanish law, mortgage lenders have the right to ...

Continue reading Court Rules “Repossessed Property Covers Excess Mortgage Debt”