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Bank of Spain: no restrictions for foreign investors in banks

Source: Reuters - Mon 21st Feb 2011

There would be no restrictions for non-Spaniards who wish to invest in Spain's savings banks, the Bank of Spain Governor Miguel Angel Fernandez Ordonez said on Monday. "There will be no restrictions at all on foreigners. We are in the European Union," Ordonez said.

"But we want stable investors ... with a commitment to permanency. We don't want speculators," he added.

Ordonez also commented how Spanish savings banks are fully provisioned against potential loan book losses. The mostly unlisted savings banks had 100 billion euros of potentially problematic investments at the end of 2010, he said during a conference looking at a new decree on banks' recapitalisation.

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