Banks operating in Spain have had to deal with an environment of heightened economic uncertainty since the start of 2022, but have emerged in robust financial health in terms of capital levels, says Alejandra Kindelán, president of the Spanish Banking Association (AEB).
“Spanish banks are the most efficient in Europe, with a cost-to-income ratio below 50%, [which is] lower than the 60% average of most of their European peers,” she says. “Profitability, in terms of return on equity, is showing signs of improvement, and we are confident that the banks will be able to support Spain’s real economy, in an environment that is showing signs of a gradual slowdown throughout Europe.”
