FT: Spain sees EUR 50 bln in new bank provisions

Author: Jamie Coleman | Category: News

Author: Jamie Coleman

  • Equals 4% of GDP
  • Spain considered “bad bank” but opts for further consolidation of cajas
  • Process will take several years to unfold

Bottom line: Look for credit to remain constrained in Spain as the banking sector continues to shed bad real estate assets.

Full story here.

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