Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

BBVA says will not need public funds for buffer

Source: Reuters - Thu 27th Oct 2011

Spain's second largest bank said on Thursday it does not need any public funding to meet the 7.1 billion euros capital buffer identified by the European Banking Authority (EBA).

On Wednesday, European leaders agreed to force banks to raise more capital by June next year, to protect against losses from any Greek debt restructuring and to try to contain the region's financial crisis.

EBA's calculations were made at end-June and since then the bank has raised 800 million euros from organic capital generation and by other internal measures, so the additional capital needs at present are 6.1 billion euros, management said.

"The calculation are as of end-June but since then we have raised 800 mln euros from organic capital generation and have implemented other internal measures, which cut the amount calculated by EBA to 6.1 billion euros," Chief Financial Officer Manuel Gonzalez Cid told analysts.

On Wednesday, BBVA said it can generate enough capital internally over the coming quarters to be well placed to meet EBA's new capital requirements.

Comment on this Story

Be the first to comment on this Story !!

Related Partners

Recommended Items

Related Articles

Related Blogs