Spanish banking heads into its fifth consecutive year of profits
Spanish banking is on the threshold of a new year of record profits, the fifth in a row.
Spanish banks are poised for a fifth consecutive year of record profits. This follows a strategy implemented a couple of years ago to boost non-interest income, as central banks lowered interest rates. Banks have strengthened their services in business and consumer segments, which are currently experiencing a good credit momentum.
This shift in focus is due to decreased demand for mortgages, caused by rising housing prices and aggressive competition from smaller lenders. Bankinter and BBVA are examples of banks that have successfully adapted to this new landscape.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
