How To Guides
- Childbirth & Education
- Legal Formalities
- Pensions & Benefits
- Property & Accommodation
Did you know...?
...you can learn Spanish at a variety of locations across Spain, online or residential and day courses in Spain?
Regardless of your standard, and whatever level you wish to reach Don Quijote has a program to suit your needs!
- Airports and Airlines Spain
- Paramount Theme Park Murcia Spain
- Corvera International Airport Murcia Spain
- USD weekly currency update- 20 January 2017
- When Expat Eyes Are Smiling
- Meet Wincham at The Homes, Gardens & Lifestyle Show, Calpe
- QROPS 2014
- Spain Increases IHT in Valencia & Murcia
- Removals to Spain v Exports from Spain
- The Charm of Seville
- Gibraltar Relations
- Retiro Park : Madrid
- Wincham announce opening of Marbella office
- Community Insurance in Spain
- Calendar Girls
- Considerations when Insuring your Boat in Spain
- QROPS – HMRC Introduces changes that create havoc in the market place
- QROPS – All Change From April 2012
Bankia sees sharp rise in housebuilder arrears
Banco Financiero y de Ahorros (BFA), the parent company of Spanish lender Bankia, increased property repossesssions last year and saw a near 37% rise in loans to housebuilders falling into arrears, its annual report showed on Friday.
Investors worry that BFA's listed banking unit Bankia will not be able to manage its high exposure to Spain's property market crash without an injection of public funds which may lead the country to seek an international bail-out.
Despite rising bad assets, BFA, including Bankia, had reduced its exposure to loans to housebuilders by €4.9 billion to €37.5 billion at the end of 2011 because it increased its provisioning against losses on bad real estate investments.
The Spanish government has demanded banks write off losses from a decade-long property boom which crashed in 2008 in order to clear their books and restore faith in the system.
BFA closed 2011 with €9.1 billion of repossessed assets on its balance sheet, up from €8.8 billion in the year previously.
Loans in arrears to housebuilders stood at €10.6 billion, up 36.5%, and the percentage of bad loans as a proportion of the total loan book in this sector rose nearly 10 percentage points to 28% in 2011.
The bank is trying to write off losses at the same time as more loans fall into arrears, as the economic recession and high unemployment cause Spaniards to fall behind on debt payments.
Total exposure to the real estate sector, including foreclosed property, bad housebuilder loans and loans about to fall in arrears, was nearly €46.6 billion at the end of 2011.
Bankia is due to report first-quarter results on May 18th.
Latest News & Stories
- Spanish hotel boss warns sector is feeling first effects of Brexit
- Two weeks into 2017, Mediterranean migrant deaths rise on last year
- Spanish court jails 4 ex-bankers for misappropriation
- Brussels sees Spain's 2017 budget broadly in line with EU rules
- Government, opposition reach deal on “floor clause” refunds for mortgage holders
- EU tells Spain to brace for cuts due to likely 2017 deficit target miss
- A nominee emerges in battle to head Spain’s leaderless Socialists
- Murcia's San Javier Airport Passenger Numbers up 2.7%
- Spanish ambassador to UK resigns over 2003 military air crash
- Bodies of five migrants found off Spain's southern coast
- Dacion en Pago : Handing Your Property Back to the Bank
- Bank guarantees - when things go wrong
- Applying for a Business Loan
- When you can’t pay the Mortgage
- Bank Charges in Spain