Iona Napier
CAIXABANK recently reported earnings of €620 million in 2014, a 23% improvement on the year before.
The bank made a significantly lower €503 million in 2013
Spain’s third-biggest bank also put over €2 billion into provisions for loan losses, almost 50% down since 2013, with its bad loan ratio dropping below 10%.
Banco Popular is another Spanish bank to report improved earnings – 31% better than in 2013 – making over €330 million in 2014.
The financial crisis that descended upon Spain in 2008 is loosening its grip on some Spanish banks, many of which received aid from the government and the European Union.
This news should make the average Spanish (non) worker very pleased.
Ah, don’t we just love Banks, so glad they were all bailed out with tax-payers’ money.