Economists fear the tax cuts in Spain
Tax cuts in Spain threatens the growth of the deficit, which raises concerns in financial markets against the backdrop of a difficult economic situation in Portugal. Read more »
Spanish Banks News
IMF: Spain should increase revenue
Spanish Prime Minister Mariano Rahoyu should take measures to increase revenues to the state budget for the leveling effect of the tax cuts announced in the last month, said the International Monetary Fund in the statement. Read more »
Spain’s GDP growth surpassed forecasts
Spain’s economy in II quarter 2014 increased by 0.5% compared with the previous three months, confirmed the preliminary data of the central bank. Read more »
Spain will reduce income and corporate taxes
Spanish authorities plan to reduce personal income and corporate taxes in 2015-2016 with a view to spur consumer spending and investment in the economy. Read more »
BFA-Bankia Group sold a stake in Indra Corporation for 337 million euros
BFA-Bankia Banking group concluded with the state holding company SEPI agreement to sell its 20.14% stake in the international corporation Indra (the acquisition price is 337 million euros). Read more »
BBVA bank experts predict economic growth
BBVA bank experts have assured that the data for the third quarter of this year indicate the possible start of recovery of the Spanish economy and its growth of 0.1%. In their opinion in spite of the slow pace of growth, improvement in economic activity is becoming a trend. Read more »
BBVA will give a mortgage on the property of “bad bank”
Credit institution BBVA concluded with the “bad” bank of Spain (Sareb) agreement to provide funding to individuals for the purchase of the fund’s real estate. At the project will be allocated up to 1 billion euros. Read more »
Santander bank has sold over 8300 properties for six months with 45% discount
For the first half of this year, Santander group of companies has sold 8,300 properties with an average discount of 45%. According to the bank, in the first quarter net profit of the bank amounted to 2.255 billion euros, up 29% from a year earlier. Read more »
BBVA profit for half a year amounted 2.9 billion euros
Net profit of the Spanish banking group BBVA for the first half of 2013 amounted to 2.882 billion euros. This is 90.8% more than the same period in 2012. Whereas semiannual profit was 1.51 billion euros. Read more »
Banking housing drops the prices of Spanish property
Spanish banks are actively getting rid of their property seized from mortgage defaulters. Buyers pay attention primarily at low housing prices offered by financial institutions, forcing the other players on the real estate market to revise the figures of their requests for selling their houses and apartments downwards. Read more »