Europe.Spain: Spain is still different

Even though it is halfway to becoming a full member of the EEC, Spain's banking system is in the midst of intense turmoil. The country's three biggest banks, Banco Bilbao Vizcaya, Banco Central, and Banesto, are on the front pages of the nation's magazines and newspapers because of he...

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Bibliographic Details
Published in:The Banker (London) 1990-03, Vol.140 (769), p.53
Main Author: Chislett, William
Format: Magazinearticle
Language:English
Subjects:
Alcocer, Alberto
Bank Profitability
Banks
Boada, Claudio
Botin, Emilio
Checking accounts
Competition
Conde, Mario
Cortina, Alberto
Economy
Escamez, Alfonso
International banking
International finance
Mergers & Acquisitions
Profitability
Regulations
Return on assets
Taxes
Toledo, Pedro
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Summary:Even though it is halfway to becoming a full member of the EEC, Spain's banking system is in the midst of intense turmoil. The country's three biggest banks, Banco Bilbao Vizcaya, Banco Central, and Banesto, are on the front pages of the nation's magazines and newspapers because of heated disputes and lawsuits. Two banks that are not at war, Banco Santander and Banco Hispano Americano, will begin having their shares traded on the stock market in Tokyo. Banco Santander was the first of the larger banks to introduce a high-yield current account which it did in 1989. Pretax profits for the country's largest banks increased by 38% in the first three quarters of 1989. Considering the Spanish banks' extensive retail branch network, foreign banks stand little chance in competing with them.
ISSN:0005-5395