| Brief Excerpt: | ...Improved Fundamentals: After the removal of sovereign support considerations from all Spanish banks except Instituto de Credito Oficial (ICO) in May 2015, the Long-Term IDRs are now driven by their standalone creditworthiness, captured in their Viability Ratings (VRs). During 2015, Fitch Ratings upgraded the VRs of three Spanish banks and the Outlook on 33% of the rated portfolio is Positive, reflecting upside potential from Spain's improved operating environment and banks' enhanced loss absorption buffers. Sector Risks Stable: The Sector Outlook is Stable, reflecting our view that risks from profitability pressures and still high legacy problem assets are balanced by the banks' continued reduction of non-performing loans (NPLs) and capital supportive measures. Supportive Economic Environment: Fitch forecasts 2.5% GDP growth for Spain in 2016 and that the housing market will further stabilise. In spite of this, we expect net loan growth to remain low, still affected by high unemployment... |
| Company(ies) | Banco Popular Espanol, S.A.
, Banco Cooperativo Espanol, S.A.
, Banco Santander S.A.
, Banco Bilbao Vizcaya Argentaria S.A.
, Santander Consumer Finance, S.A.
, Caja Rural de Navarra, Sociedad Cooperativa de Credito
, CAJA RURAL DEL SUR, SOCIEDAD COOPERATIVA DE CREDITO - SUCURSAL EM PORTUGAL
, Banco de Castilla-La Mancha SA
, Banco Mare Nostrum S.A.
, BFA Tenedora de Acciones SA
, Caixabank SA
, Bankia, S.A.
, Liberbank, S.A.
, Abanca Corporacion Bancaria, S.A.
, Kutxabank, SA
, Unicaja Banco S.A.
, Ibercaja Banco SA
, Cecabank, SA
, Grupo Cooperativo Cajas Rurales Unidas
, CAJAMAR CAJA RURAL, SOCIEDAD COOPERATIVO DE CREDITO |
