bank restructuring

Spanish government approves `bad bank’ for toxic assets


September 1st, 2012 - 3:07 pm ICT by IANS
Madrid, Sep 1 (IANS/EFE) Spain's government has approved a new financial sector overhaul required by Brussels as a part of a bank-rescue programme, creating an asset-management agency - or "bad ... Read more...

Posted in Business |

EC approves Spanish bank recapitalization programme


July 26th, 2012 - 11:28 am ICT by IANS
Brussels, July 26 (IANS/EFE) The European Commission said Wednesday it has approved a Spanish programme to recapitalize its banks through the end of 2012."The recapitalization scheme is the first stepping ... Read more...

Posted in Business |

Spanish government takes controlling stake in ailing bank


May 10th, 2012 - 12:07 pm ICT by IANS
Madrid, May 10 (IANS/EFE) The Spanish government will nationalize the parent company of Bankia, the country's fourth-largest bank, and plans to inject additional capital into the troubled institution, the ... Read more...

Posted in Business |

CaixaBank to become Spain’s largest bank by assets


March 27th, 2012 - 12:16 pm ICT by IANS
Barcelona, March 27 (IANS/EFE) CaixaBank said Monday that it plans to purchase Banca Civica for nearly 1 billion euros ($1.33 billion) in a transaction that will leave the buyer as ... Read more...

Posted in Business |

Spanish banks’ bad loans ratio highest since 1994


February 18th, 2012 - 12:43 pm ICT by IANS
Madrid, Feb 18 (IANS/EFE) Spanish banks' ratio of non-performing loans to total loans came in at 7.61 percent last year, the highest percentage since 1994.According to provisional data published Friday ... Read more...

Posted in Uncategorized |

Moody’s downgrades Spain’s debt rating


March 11th, 2011 - 11:55 am ICT by IANS
Madrid, March 11 (IANS/EFE) Moody's downgraded Spain's debt rating Thursday from Aa1 to Aa2 with a negative outlook, citing high bank recapitalisation costs.Six months after stripping Spain of its highest-quality ... Read more...

Posted in Business |

Spain to use $37 billion for bank restructuring


June 17th, 2010 - 8:26 pm ICT by IANS
Madrid, June 17 (DPA) Spain expects to use about 30 billion euros ($37 billion) to cover the financial needs of banks engaged in the restructuring processes, Economy Minister Elena Salgado said Thursday. The ... Read more...

Posted in Business |

Caja Madrid, Bancaja merger forms Spain’s biggest bank


June 11th, 2010 - 7:58 am ICT by IANS
Madrid, June 11 (DPA) Spanish savings banks Caja Madrid and Bancaja Thursday announced that they were merging to create the country's biggest savings bank. The boards of the two banks approved the merger. ... Read more...

Posted in Business |

Spanish prime minister vows to reduce budget deficit


March 25th, 2010 - 1:23 pm ICT by IANS
Madrid, March 25 (IANS/EFE) Spanish Prime Minister Jose Luis Rodriguez Zapatero has reiterated his administration's commitment to reduce the country's budget deficit by implementing austerity measures. Zapatero made the statement in the Spanish ... Read more...

Posted in Business |

Brown to warn US politicians against economic protectionism


March 4th, 2009 - 6:28 pm ICT by ANI
Washington, Mar 4 (ANI): British Prime Minister Gordon Brown, who is presently in Washington to bolster Britain''s relations with the US, is expected to warn American politicians to avoid economic protectionism. Brown ... Read more...

Posted in World |

Indonesia seizes money from Suharto’s youngest son


August 30th, 2008 - 5:36 pm ICT by IANS
Jakarta, Aug 30 (DPA) The Indonesian government seized more than $133 million from a company run by the youngest son of late dictator Suharto, local media reports said Saturday.Finance Minister Sri Mulyanu ... Read more...

Posted in Uncategorized |

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