San­tander plans to in­vest in Spain's bad bank

The Pak Banker - - Front Page -


Spain's San­tander plans to in­vest in the coun­try's so-called bad bank in a sign that healthy do­mes­tic lenders are will­ing to sup­port the en­tity cre­ated to clean up the af­ter­math of a 2008 prop­erty crash.

"The bank plans on in­vest­ing in the bad bank," a spokesman for San­tander, Spain's big­gest bank, told me­dia on Sun­day.

Spain has set up the bad bank to siphon off toxic real es­tate as­sets from bank bal­ance sheets that date from the prop­erty crash. The bad bank's cre­ation is a con­di­tion of re­ceiv­ing up to €100 bil­lion ($127 bil­lion) of aid in a Euro­pean bailout of the coun­try's fi­nan­cial sec­tor. Spain's sec­ond big­gest bank, BBVA, is con­sid­er­ing in­vest­ing in the ve­hi­cle, but has yet to make a de­ci­sion, a BBVA spokesman said.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.