Francisco Gonzalez News
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Spain’s 41 billion-euro ($54 billion) rescue of lenders, prompted by record losses at Bankia, won’t spell the end of troubles for the nation’s financial industry as the economy remains mired in recession.
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Banco Bilbao Vizcaya Argentaria SA, Spain’s second-biggest bank, expects to increase its share of the domestic market to 20 percent from 12.5 percent, Chairman Francisco Gonzalez said.
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Banco Bilbao Vizcaya Argentaria SA cut the remuneration of Chairman Francisco Gonzalez by a fifth to about 4 million euros ($5.36 million) last year.
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Spain can survive without needing a European bailout as sentiment about the euro improves and markets recognize its progress with economic reforms, Banco Bilbao Vizcaya Argentaria Chairman Francisco Gonzalez said.
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Banco Bilbao Vizcaya Argentaria SA, Spain’s second-biggest bank, posted a 20 million-euro ($27.3 million) fourth-quarter profit as a revenue boost helped offset costs of completing a cleanup of Spanish real estate assets.
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Banco Bilbao Vizcaya Argentaria SA chairman Francisco Gonzalez said the Spanish lender will bid for three-year loans in the Feb. 29 European Central Bank auction, according to El Pais.
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Banco Bilbao Vizcaya Argentaria SA Chairman Francisco Gonzalez said there is “something of a bubble” in China’s real-estate market and government officials are taking action to prevent problems.
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Banco Bilbao Vizcaya Argentaria SA Chairman Francisco Gonzalez said Spain won’t need a full bailout, and it’s more “realistic” to think it will seek a precautionary credit line.
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Banco Bilbao Vizcaya Argentaria SA , Spain’s second-largest bank, posted a 30-fold gain in fourth- quarter profit as Mexican earnings surged and it didn’t repeat writedowns in the U.S.
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Jose Ignacio Goirigolzarri, the man charged with cleaning up Bankia group, helped set Spain on its course to a banking bailout by asking for 19 billion euros ($23.8 billion) in state aid two weeks after becoming chairman.
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