Spain’s €50bn provisioning “painful” for BBVA, Santander

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Spain’s €50bn provisioning “painful” for BBVA, Santander

Issue: Daily News - 3 February 2012

Analysts believe Banco Santander and BBVA will find the loan provisioning requirements set out by Spain’s new finance minister on Thursday night “painful” — but will manage to cover them this year. But they say the new rules will push more consolidation in Spain’s banking sector. ..

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