Costa Azahar is set in a quite rural area, surrounded by olive and almond trees, in the heart of the Maestrazgo.

Sunday, 27 January 2013

Spanish banks doing well

SPAIN is due to refund the European Central Bank (BCE) around 63 billion euros, according to a report from Barclays.
Now that the banks have been bailed out, they have surplus cashflow and are due to hand some of it back during the first reimbursement period of the Long-Term Refinancing Operation (LTRO).
The cash has not reached the national economy in the true sense, but has been on deposit from the BCE or used to buy bank debts.
The BBVA will return most of the money it has been given from Europe this and next month, whilst Banco Sabadell and Bankinter will refund 1.5 billion euros each.
Other banks are being more cautious, despite the more flexible criteria demanded by Basel III and improved cashflow, in case the immediate future brings greater international tension and another market crash.
Spanish banks are currently in a very healthy cashflow situation, according to Barclays – probably the best-ever.
Bankia has a liquid asset surplus until 2017 of over seven billion euros, despite being one of the most troubled financial entities in the country.
Barclays says there is no pressure on the part of banks to refund their LTRO money, and that they have two years ahead of them to see how the national economy evolves.

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