MADRID, Jan 30 (Reuters) – Spain’s Santander increased provisions having bad loans within the domestic plot and you can Latin american main industry just last year and typed down rotten Spanish real estate possessions, cutting gain over fifty percent.
Santander, the biggest lender on the euro zone, on the Thursday told you it’s today taken the latest worst of pain out-of Spain’s possessions freeze 5 years back. However, data recovery inside Europe’s ailing economy carry out take some time.
I do believe we have been today entering a separate stage in addition to recovery tend to be obvious when you look at the 2014, Chairman Emilio Botin told a news conference.
He said The country of spain, that’s in second credit crunch from inside the 5 years, try close to a great duration from transform immediately after authorities austerity and you can banking reforms possess place the nation into a much better ground.
Botin expects Santander to share healthier results this season, aided by the lower writedowns. It has got kepted every one of their authorities-implemented conditions into the possessions possessions, which totalled six.step one million euros ($8.28 billion) last year.
The lending company extra so it had halved its net Foreign language genuine house connection with 12.5 million euros, immediately after a hit to offer an archive 33,five-hundred characteristics in the united kingdom. (більше…)