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Spain demands cash injection from Barclays

Fri 11th Mar 2011

Barclays Bank have said that its Spanish banking division will fully comply with the country's new core capital ratio requirements by the September deadline.

The bank has been ordered to inject £500million into its Spanish operation following a health check of the nation's financial system.

The Bank of Spain has applied the new regulations to every financial institution operating within the country and found that Barclays PLC is one of just two foreign banks that do not possess t, alhe required core cpaital cash ration's, along with Deutsche Bank.

Earlier this week the bank announced the closure of 100 of their Spanish branches with the loss of 700 jobs, after figure hat the bank was exposed to 900 Million pounds sterling of bad debt in Spain.

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