Spain’s banks are looking much more stable, having cut non-performing assets in response to European Central Bank pressure. A reduction in overall bank numbers through mergers has streamlined the industry, though observers say increasing profitability remains challenging. Jules Stewart reports.
With the property market going up and unemployment coming down, Spain’s banks are hoping a renewed focus on their core customers and domestic market will spur a slow but steady recovery as the country emerges from recession. Jules Stewart reports.
There is an optimistic feeling among the CEOs of Spain's leading banks, as profits and domestic conditions improve. With the European Central Bank's imminent asset quality review expected to be passed with flying colours, the country's lenders are now looking beyond survival and towards growth, both domestically and internationally.