Santader Has Relied on Its Operations in Brazil and LatAm During the Spanish Crisis

During recent years, Santander has relied heavily on its operations in Brazil and other LatAm countries in order to be less affected by the spanish crisis. However, along with rivals such as BBVA and Caixabank, it is now enjoying the strengthening economic recovery of the spanish economy.

Last thursday, they revealed the earnings of the spanish banking sector for this season showing that the results were better than expected 38 per cent rise in second-quarter profits.

Spanish banks seem to look to a buoyant future. Funding costs are falling and banks like Santander are now under less pressure than before to set aside provisions for loan losses linked to the spanish real state bubble.

There is also no concern about to possibility of an argentinian default said Mr. Marín, the Santander Chief Executive.

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