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  3. Spanish banks emerge after the crisis as "predators", according to Financial Times   (02/10/2009)

This news article was originally written in Spanish. It has been automatically translated for your convenience. Reasonable efforts have been made to provide an accurate translation, however, no automated translation is perfect nor is it intended to replace a human translator. The original article in Spanish can be viewed at Los bancos españoles emergen tras la crisis como “depredadores”, según Financial Times

Spanish banks emerge after the crisis as "predators", according to Financial Times

October 2, 2009

Prudence in regulation and the countercyclical measures imposed by the Bank of Spain have been located to Spanish institutions in a position of relative strength following the crisis on international, allowing competitors even emerge as "predators and rescuers" in international markets, according to the Financial times.

In this regard, the newspaper notes that the major commercial banks of Spain, thanks to its focus on banking retail and to its international diversification, not only have not suffered losses, but they have continued to generate substantial benefits.

In fact, Rotary English recalls the last ranking developed by The Banker magazine placed in the top five of the world rankings for gross profits of 2008 three entities Chinese with BBVA and Santanderwhose profits in the first half of 2009 have been only slightly affected. In this regard, the Financial Times indicated that Spanish banks benefited from the prudent regulation of the Bank of Spain, which avoided exposure to the risks of "exotic credit products", as well as the obligation to establish counter-cyclical provisions during the years of growth that now constitute a cushion of reserves which "is the envy of others" "European banks".

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