This content is not available in your region

Geographic diversification of Spanish banks is positive, Spanish cenbank says

Geographic diversification of Spanish banks is positive, Spanish cenbank says
Geographic diversification of Spanish banks is positive, Spanish cenbank says   -   Copyright  Thomson Reuters 2021
By Reuters

MADRID – Geographic diversification of Spanish banks is positive although lenders should take into account risks associated to different jurisdictions, Bank of Spain governor Pablo Hernandez de Cos said on Monday.

“Diversification per se is good, in terms of risk diversification, but you have to be careful about the jurisdiction in which you operate,” De Cos told a financial event.

Though De Cos said he was speaking on general terms, his comments came after BBVA offered on Monday to buy the rest of Garanti for up to 2.25 billion euros ($2.6 billion), taking advantage of a slide in the lira.