bbva
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 ...
Continue reading BBVA Warns of a New Spanish Economic Recession
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 ...
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 ...
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 ...
Continue reading Volcker Calls for New European Banking Authority
May 19th, 2011
According to a recent newspaper article, Spain’s main banks are once again offering mortgage loans on the same terms as they did before the crisis in an effort to shift their backlog of properties, many of which were seized during that period. The report said that some banks, such as Banco ...
Continue reading Spanish Banks Offer Pre-Crisis Terms on Mortgages
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 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
July 21st, 2010
Spain’s banks are deliberately stifling the property recovery they are desperate to see by screwing agency commission rates down to 1.5% to 3%; and by forcing developers to the wall. Agents and developers are getting increasingly frustrated with the inept way in which the Spanish banks are trying to offload their ...
Continue reading Spanish Banks Not Helping Property Recovery
July 19th, 2010
Spanish banks and cajas, frozen out of the international wholesale finance markets on which they once depended, increased their borrowing from the European Central Bank by nearly half to €126.3bn ($161.2bn) in June from €85.62bn in May, according to figures released by the Bank of Spain. Spanish borrowing from the ECB ...
Continue reading Spanish Data Shows 48% Rise in Loans from ECB
July 9th, 2010
International investors flocked to buy Spanish bonds on Tuesday amid rising hopes that Madrid had averted a financial crisis and would not have to use emergency bail-out loans. The Spanish raised €6bn ($7.6bn) in 10-year bonds, with orders rising to €14bn in the space of just a few hours, as many ...
Continue reading Spanish Bonds Attract Global Investors
July 5th, 2010
A crucial indication of whether European banks can be taken off "life support" from central banks will come this morning as the European Central Bank (ECB) offers refinancing for a €442bn loan that has kept the system afloat for the past year. Analysts reckon that if the ECB admits that banks ...
Continue reading European Banks Await News on Refinancing Package
