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Which 3 Stocks Would Warren Buffett Buy?Sabadell will have to set aside €1.6bn to comply with financial reform
07-02-2012 16:08
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Banco Sabadell has reported that it will need to set aside €1.607bn for provisions in order to satisfy the new requirements established by Spain's financial reform.
The stipulated amount includes additional provisions for non-performing or substandard loans related to real-estate assets.
The bank expects to absorb most of these provisions including a pending provision for €410, which will also be covered in 2012, through its earnings capacity.
The new rules also mean that the bank will have an additional capital requirement of €789m, which the bank plans to cover with its excess capital resources. As such, the bank plans to satisfy the new requirements in fiscal year 2012.
M.D.
The stipulated amount includes additional provisions for non-performing or substandard loans related to real-estate assets.
The bank expects to absorb most of these provisions including a pending provision for €410, which will also be covered in 2012, through its earnings capacity.
The new rules also mean that the bank will have an additional capital requirement of €789m, which the bank plans to cover with its excess capital resources. As such, the bank plans to satisfy the new requirements in fiscal year 2012.
M.D.
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