Arab Today, arab today spain finishes recapitalizing savings banks
Last Updated : GMT 05:36:13
Arab Today, arab today
Arab Today, arab today

Spain finishes recapitalizing savings banks

Arab Today, arab today

Arab Today, arab today Spain finishes recapitalizing savings banks

Madrid - Xinhua

The process of recapitalizing the Spanish financial system has cost the country a total of 7,551 million euros, according to figures released by the Bank of Spain on Friday. The money was spent through the Fondo de Restructuracion Bancaria Ordinaria (FROB) and FROB now controls three Spanish banks, with 100 percent of the capital of Unimm, 93 percent of NovaCaixa Galicia and 90 percent of CatalunyaCaixa. \"The process was completed today, on September 30,\" said Governor of the Bank of Spain Miguel Angel Fernandez Ordonez. \"We have completed the process in the calendar that had been required and all of the banks fulfil the demanded level,\" he added. There are in fact two exceptions to this with the banks Marenostrum and Liberbank having been granted another 25 days to acquire more capital through private investors. As well as the public funds, the Spanish banking sector has also been able to attract private funding to the value of 5,838 million euros in order to reach the levels of capital demanded of them, meaning that the total cost of restructuring the sector is 13,389 million euros, slightly less than the original estimates of 15,152 million euros. This is mainly due to the fact that Bankia and Banca Civica have been floated on the stock exchange, reducing their need for capital. Ordonoz was pleased with the work that has been carried out in what he described as \"the worst moment in the financial markets in the last 70 years,\" he added that the next priority was to resolve problems of sovereign debt, as well as viewing positively Germany\'s decision to approve the amplification of the European rescue fund. Spain\'s government spokesman Jose Blanco also valued the restructuring of the savings banks at his weekly press conference. \"the financial sector is more solvent, more efficient and more transparent and we are going to recover the flow of credit towards the economy, to companies and to families.\"

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today spain finishes recapitalizing savings banks Arab Today, arab today spain finishes recapitalizing savings banks

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday