Spain - The Banker

Guides & Reports

Post-crisis reality bites for Spain's Cajas

The cranes in Spain: a collapse in Spain's property market has created significant difficulties for the country's financial institutions

Once considered one of the better-placed survivors of the financial crisis, the property bubble bursting in Spain has hit the country's savings banks hard, resulting in calls for consolidation in the sector. Writer Rodrigo Amaral

Across the board

Increasing efficiency: Santander Group's chief information officer José María Fuster has overseen a major IT system restructuring programme

Santander's acquisition spree has left the bank with a major IT challenge. But as José María Fuster, its CIO, explains, the bank has embraced IT integration as an all-encompassing transformation programme. Writer Wendy Atkins

Emilio Botín

Emilio Botín, chairman of Banco Santander

The chairman of The Banker's Bank of the Year, Banco Santander, describes why the global crisis has largely bypassed his bank, and how the company's focus on customer service and efficiency will help its acquisitions across Europe, Latin America and the US to thrive.

António Horta-Osório

António Horta-Osório, CEO of Abbey

Abbey's CEO tells how his decision to pull the bank back from the mortgage market and transform it into a full commercial bank has helped it to thrive during the fallout of the crisis. Writer Brian Caplen

Bad times increase merger activity among Spain's cajas

Signs of the times: apartments for sale and rent in Javea on the Costa Blanca

The collapse in Spanish property prices and the rise in loan defaults and toxic assets has left the cajas - the 45 mutuals responsible for more than half of the country's mortgage lending - staring consolidation in the face in a bid for survival. Writer Jules Stewart

The Matador's special weapon

Close adherence to international regulatory standards has protected Madrid's financial system from embroilment in the subprime market that has so badly harmed rival centres New York, London and Paris. Yet Spain's flailing economy must be tended to if Madrid is to rise as a dynamic alternative. Writer Rodrigo Amaral

Spain's bright new hope

Key players: prime minister José Luis Rodríguez Zapatero (left) and newly appointed economy minister Elena Salgado opted to retain Aurelio Martínez as president of ICO, despite speculation to the contrary

The state-owned Instituto de Crédito Oficial has risen to prominence as Spain's most promising credit provider. However, the country's government must ensure careful lending practices are followed so as not to overstretch the resource. Writer Rodrigo Amaral

Spanish banks hold firm

Banco Santander’s capital raising last November was unexpected but investors responded surprisingly well. While Spanish banks have largely managed to avoid the fallout of the subprime crisis, the government is taking measures to ensure that any further global setbacks only have a minimal impact upon the country. Writer Jules Stewart.

Walking a crisis tightrope

Luis de Guindos Jurado, Lehman Brothers

Spanish banks appear to have survived the credit crunch relatively unscathed. However, as Jules Stewart reports, the country’s current account deficit and reliance on foreign markets is causing concern among some commentators.

Spain hopes for a soft landing

David Burns, Schroders

Spanish banks are tightening up their strategies in preparation for a global slowdown says Jules Stewart.

Crisis? What crisis?

José Ignacio Goirigolzarri, BBVA

BBVA is in an enviable position for 2008, having had no involvement with subprime assets. Jules Stewart talks to president and COO José Ignacio Goirigolzarri.

Fears of a bubble

Recent stock market falls in the construction sector are making Spain’s seemingly invincible property market look vulnerable, with all that entails for an economy that is highly dependant on it. Neil Tyler explains.