Kindelán (AEB): "Pedimos una regulación más simple, no renunciar a la estabilidad financiera"

Alejandra Kindelán, president of the Spanish Banking Association (AEB), has urged Europe to implement the necessary reforms to navigate the evolving geopolitical landscape. Achieving strategic autonomy does not involve grand declarations or extensive plans, but rather investment, Kindelán stated at the XVII EXPANSIÓN-KPMG Financial Meeting, organized in collaboration with American Express and Cunef University.

She estimated the additional investment needs in Europe at €1.4 trillion. Knowing that annual credit production in Europe amounts to approximately €4.6 trillion, this represents a 30% increase in financing capacity, she emphasized, highlighting the crucial role the financial sector plays in this regard.

Europe requires profitable and competitive banks. The good news is that Spanish banking is in a strong position at this moment. However, complacency should not be the result, and that is why we are pushing for two major transformations within the European Union, Kindelán affirmed. On one hand, we are advocating for regulatory simplification.

We are not discussing deregulation or abandoning financial stability. We are asking for a simpler, coherent, and stable regulation, she explained. The second priority is market integration, as Europe still remains a fragmented market. We cannot aspire to compete on equal terms with other major economies while maintaining barriers that limit the scale of our entities and the efficiency of our markets, she warned.

In this regard, she called for the completion of the Banking Union and the development of the Savings and Investment Union. Europe saves a lot; the problem is that a portion of this saving does not find its way to European companies, projects, and innovation, she indicated.