BREAKING NEWS

BREAKING NEWS

Bad loans hit Banesto

Now Reading:

Bad loans hit Banesto

Text size Aa Aa

Because it has had to set aside 85 million euros to cover bad loans, Spanish bank Banesto announced a 6.8 percent fall in first-half profit.

Banco Espanol de Credito – known as Bonesto – is the first Spanish lender to report first-half results.

The bank, which is majority-owned by Banco Santander, said that it does have enough capital to cope even if the Spanish economy were to deteriorate sharply.