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Выбор редакции
20 октября, 19:54

Bankinter: recovery position

The Spanish lender’s results demonstrate why it leads its peers

10 июня, 16:30

The Zacks Analyst Blog Highlights: RWE, Telefónica, Deutsche Telekom, Volkswagen and Bankinter

The Zacks Analyst Blog Highlights: RWE, Telefónica, Deutsche Telekom, Volkswagen and Bankinter

03 декабря 2015, 23:25

Barclays Selling Italian Business: What's Next in Line?

Barclays (BCS) announced a deal to sell its Italian retail operations. Now what's next on the block?

01 декабря 2015, 08:01

Euribor Hits Record Low in First Ever Dip Below 0.10%; Negative Mortgage Rates Increasingly in Play

Via translation from La Vanguardia, Euribor at Historic Lows, Mortgage Interest Drops by €166 Per Year. The 12-month Euribor, on which most Spanish mortgages are based, closed the month of November at 0.079%, setting a new record low and falling for the first time below 0.1%.The monthly closing represents a decline of 0.256 percentage points since November last year.A citizen with a mortgage of 120,000 euros will get a will save almost 14 euros per month, 166 euros per year.XTB analyst Jaime Díez explained to Europa Press that the index has experienced a 50% drop since the beginning of the month based on "fruit of the proximity of the next meeting of the European Central Bank" to be held this Thursday by president Mario Draghi.Negative Mortgage Rates Increasingly in PlayHey, why not a negative Euribor so mortgage holders get money back? Actually, negative interest rates on mortgages happened in April of this year, just not on 12-month Euribor..The above table on Euribor Rates.Anyone with a mortgage rate tied to 6-month Euribor or less now gets paid to have a mortgage. In Spain, most mortgages are tied to 1-year Euribor.AddendumReader Allen, president of a mortgage company pinged me with a comment that the spread on a typical Spanish 20-year mortgage is Euribor + 1 percentage point.He is correct. That said, typical does not imply always.In the US, I had a very unconventional mortgage, now paid off, that was at 1-month Libor rounded to the nearest 0.25 plus a spread of 0.25. Libor briefly spiked in 2007 (anyone recall that?) and I had to calm my wife who was starting to think I was crazy for getting into such a loan. I assured her Bernanke would be cutting rates like mad. Soon thereafter our mortgage rate crashed and was at 0.25% for long periods of time.In Europe, this year, there were negative rates in at least 3 countries: Denmark, Spain, Portugal.I commented on negative mortgages on April 15, in "Inconceivable" Negative Interest Rates on Mortgages in Portugal and Spain, with Italy On Deck.Here is the key paragraph from the Wall Street Journal report I cited: In Spain, Bankinter has been forced to deduct some clients’ mortgage principal payments because an interest-rate benchmark tied to Switzerland’s currency has dipped into negative territory.An executive at another Spanish bank said the lender in recent months has started to put in place an interest-rate floor on thousands of short-term business loans that are tied to short-term variations of Euribor. Two-month Euribor, is at minus 0.004%. For new loans, the bank is increasing the cushion it charges customers above Euribor.Hundreds of thousands of additional loans would be affected if medium-term Euribor rates enter negative territory, the executive said. The six-month rate is currently at 0.078%.In Portugal, interest rates on most mortgages are linked to a monthly average of three- and six-month Euribor. Both have been steadily sinking and are hovering just above zero. In January, the Daily Koz reported Negative Interest Rate Mortgages Have Arrived In Denmark.So even though most mortgages have a cushion, they all don't. And if some Spanish mortgages went negative in April, even more are negative now.Mike "Mish" ShedlockMike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific.

08 сентября 2015, 17:30

Barclays Cuts More Non-Core Assets: Sells UK Loan Portfolio

Barclays PLC (BCS) has sold its UK Secured Lending portfolio to a group of investors led by The Goldman Sachs Group, Inc. (GS)

04 сентября 2015, 20:43

Barclays' Sale Of Portuguese Ops At Discount Likely To Impact Exits In Italy, France

Earlier this week, Barclays inked a deal with Spain’s Bankinter to sell a bulk of its retail banking operations in Portugal – the latest move by the British banking giant towards shrinking its retail presence in Europe. The sale includes Barclays’ Retail and Wealth Management operations as well as a part of its Corporate Banking business, which is focused on small and mid-sized enterprises. Notably, Barclays will incur a loss of £200 million ($300 million) from the transaction, as it agreed to dispose of the operations at €100 million ($112 million) – roughly 40% of its book value.

03 сентября 2015, 22:00

Barclays to Sell Portuguese Unit: Will it Aid a Turnaround?

In an effort to speed up a turnaround and scale back its businesses in less profitable markets, Barclays announced the sale of its Portuguese operations to Spain's Bankinter.

Выбор редакции
03 сентября 2015, 19:35

Spain stocks higher at close of trade; IBEX 35 up 1.05%

Spain stocks were higher after the close on Thursday, as gains in the Consumer Goods, Consumer Services and Building&Construction sectors led shares higher. At the close in Madrid, the IBEX 35 added 1.05%. The best performers of the session on the IBEX 35 were Acerinox (MADRID:ACX), which rose 7.21% or 0.699 points to trade at 10.395 at the close. Meanwhile, Int.Airl.Grp (MADRID:ICAG) added 4.31% or 0.319 points to end at 7.719 and Arcel. Mittal (MADRID:MTS) was up 3.42% or 0.228 points to 6.905 in late trade. The worst performers of the session were Abengoa B (MADRID:ABGek), which fell 6.82% or 0.064 points to trade at 0.874 at the close. B. Sabadell (MADRID:SABE) declined 3.53% or 0.065 points to end at 1.776 and Bankinter (MADRID:BKT) was down 1.35% or 0.089 points to 6.483. Rising stocks outnumbered declining ones on the Madrid Stock Exchange by 150 to 49 and 9 ended unchanged. Shares in B. Sabadell (MADRID:SABE) fell to 52-week lows; losing 3.53% or 0.065 to 1.776. Gold for December delivery was down 0.98% or 11.10 to $1122.50 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in October rose 1.99% or 0.92 to hit $47.17 a barrel, while the October Brent oil contract rose 1.28% or 0.65 to trade at $51.15 a barrel. EUR/USD was down 1.05% to 1.1109, while EUR/GBP fell 0.67% to 0.7288. The US Dollar Index was up 0.63% at 96.48.

Выбор редакции
11 августа 2015, 19:35

Spain stocks lower at close of trade; IBEX 35 down 1.41%

Spain stocks were lower after the close on Tuesday, as losses in the Consumer Goods, Building&Construction and Chemical, Petroleum&Plastic sectors led shares lower. At the close in Madrid, the IBEX 35 fell 1.41%. The best performers of the session on the IBEX 35 were Bankinter (MADRID:BKT), which fell 0.03% or 0.002 points to trade at 7.068 at the close. Meanwhile, B. Sabadell (MADRID:SABE) fell 0.20% or 0.004 points to end at 2.047 and Banco Popular (MADRID:POP) was down 0.36% or 0.015 points to 4.125 in late trade. The worst performers of the session were Arcel. Mittal (MADRID:MTS), which fell 4.26% or 0.371 points to trade at 8.327 at the close. Indra A (MADRID:IDR) declined 3.70% or 0.395 points to end at 10.275 and Abengoa B (MADRID:ABGek) was down 3.58% or 0.039 points to 1.050. Falling stocks outnumbered advancing ones on the Madrid Stock Exchange by 174 to 28 and 3 ended unchanged. Gold for December delivery was up 0.36% or 4.00 to $1108.10 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 3.87% or 1.74 to hit $43.22 a barrel, while the October Brent oil contract fell 2.90% or 1.48 to trade at $49.54 a barrel. EUR/USD was up 0.10% to 1.1030, while EUR/GBP rose 0.28% to 0.7088. The US Dollar Index was up 0.12% at 97.34.

Выбор редакции
10 августа 2015, 19:35

Spain stocks higher at close of trade; IBEX 35 up 1.19%

Spain stocks were higher after the close on Monday, as gains in the Consumer Goods, Financial Services&Real Estate and Consumer Services sectors led shares higher. At the close in Madrid, the IBEX 35 gained 1.19%. The best performers of the session on the IBEX 35 were Bankinter (MADRID:BKT), which rose 3.18% or 0.218 points to trade at 7.070 at the close. Meanwhile, Abertis Infr (MADRID:ABE) added 2.09% or 0.315 points to end at 15.380 and Banco Popular (MADRID:POP) was up 1.94% or 0.079 points to 4.130 in late trade. The worst performers of the session were Obrascon Huarte Lain (MADRID:OHL), which fell 1.99% or 0.295 points to trade at 14.550 at the close. Abengoa B (MADRID:ABGek) declined 0.46% or 0.005 points to end at 1.089 and Indra A (MADRID:IDR) was down 0.33% or 0.035 points to 10.670. Rising stocks outnumbered declining ones on the Madrid Stock Exchange by 149 to 56 and 4 ended unchanged. Gold for December delivery was up 1.08% or 11.80 to $1105.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 1.87% or 0.82 to hit $44.69 a barrel, while the October Brent oil contract rose 2.72% or 1.34 to trade at $50.58 a barrel. EUR/USD was up 0.33% to 1.1000, while EUR/GBP fell 0.32% to 0.7057. The US Dollar Index was down 0.34% at 97.33.

Выбор редакции
07 августа 2015, 19:35

Spain stocks lower at close of trade; IBEX 35 down 0.67%

Spain stocks were lower after the close on Friday, as losses in the Consumer Goods, Telecoms&IT and Building&Construction sectors led shares lower. At the close in Madrid, the IBEX 35 lost 0.67%. The best performers of the session on the IBEX 35 were ACS Const. (MADRID:ACS), which rose 1.78% or 0.560 points to trade at 31.935 at the close. Meanwhile, Gas Natural (MADRID:GAS) added 1.75% or 0.350 points to end at 20.350 and Enagas (MADRID:ENAG) was up 1.33% or 0.345 points to 26.210 in late trade. The worst performers of the session were Abengoa B (MADRID:ABGek), which fell 7.76% or 0.092 points to trade at 1.094 at the close. Tecnicas Reunidas (MADRID:TRE) declined 2.97% or 1.375 points to end at 44.870 and Bankinter (MADRID:BKT) was down 2.11% or 0.148 points to 6.852. Falling stocks outnumbered advancing ones on the Madrid Stock Exchange by 143 to 60 and 10 ended unchanged. Gold for December delivery was up 0.35% or 3.80 to $1093.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 0.94% or 0.42 to hit $44.24 a barrel, while the September Brent oil contract fell 1.02% or 0.51 to trade at $49.02 a barrel. EUR/USD was up 0.44% to 1.0972, while EUR/GBP rose 0.69% to 0.7090. The US Dollar Index was down 0.25% at 97.63.

04 августа 2015, 14:36

Картину испанского миллиардера изъяли на таможне Франции

Французская таможня пресекла попытку вывоза из Испании картины Пабло Пикассо «Портрет молодой женщины», принадлежащей 79-летнему испанскому банкиру Хайме Ботену (№1118 в глобальном рейтинге миллиардеров по версии Forbes,...

Выбор редакции
16 июля 2015, 19:35

Spain stocks higher at close of trade; IBEX 35 up 1.54%

Spain stocks were higher after the close on Thursday, as gains in the Telecoms&IT, Consumer Goods and Financial Services&Real Estate sectors led shares higher. At the close in Madrid, the IBEX 35 rose 1.54% to hit a new 1-month high. The best performers of the session on the IBEX 35 were Distribuidora Intl de Aliment (MADRID:DIDA), which rose 3.11% or 0.199 points to trade at 6.600 at the close. Meanwhile, Bankinter (MADRID:BKT) added 2.56% or 0.181 points to end at 7.240 and Tecnicas Reunidas (MADRID:TRE) was up 2.46% or 1.060 points to 44.180 in late trade. The worst performers of the session were Aena Aeropuertos SA (MADRID:AENA), which fell 0.55% or 0.55 points to trade at 99.80 at the close. Indra A (MADRID:IDR) declined 0.32% or 0.035 points to end at 10.995 and FCC (MADRID:FCC) was down 0.09% or 0.008 points to 9.402. Rising stocks outnumbered declining ones on the Madrid Stock Exchange by 163 to 41 and 8 ended unchanged. Gold for August delivery was down 0.33% or 3.80 to $1143.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August fell 0.19% or 0.10 to hit $51.31 a barrel, while the September Brent oil contract rose 0.31% or 0.17 to trade at $57.30 a barrel. EUR/USD was down 0.67% to 1.0877, while EUR/GBP fell 0.44% to 0.6972. The US Dollar Index was up 0.51% at 97.78.

Выбор редакции
21 мая 2015, 19:35

Spain stocks higher at close of trade; IBEX 35 up 0.18%

Spain stocks were higher after the close on Thursday, as gains in the Consumer Goods, Building&Construction and Chemical, Petroleum&Plastic sectors led shares higher. At the close in Madrid, the IBEX 35 gained 0.18%. The best performers of the session on the IBEX 35 were Sacyr (MADRID:SCYR), which rose 1.95% or 0.080 points to trade at 4.191 at the close. Meanwhile, Enagas (MADRID:ENAG) added 1.45% or 0.390 points to end at 27.265 and Tecnicas Reunidas (MADRID:TRE) was up 1.21% or 0.545 points to 45.785 in late trade. The worst performers of the session were FCC (MADRID:FCC), which fell 2.02% or 0.220 points to trade at 10.660 at the close. Int.Airl.Grp (MADRID:ICAG) declined 1.98% or 0.158 points to end at 7.808 and Bankinter (MADRID:BKT) was down 1.03% or 0.073 points to 6.977. Rising stocks outnumbered declining ones on the Madrid Stock Exchange by 109 to 96 and 8 ended unchanged. Gold for June delivery was down 0.37% or 4.50 to $1204.20 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July rose 3.09% or 1.82 to hit $60.80 a barrel, while the July Brent oil contract rose 2.58% or 1.68 to trade at $66.70 a barrel. EUR/USD was up 0.28% to 1.1125, while EUR/GBP fell 0.57% to 0.7099. The US Dollar Index was down 0.30% at 95.36.

15 апреля 2015, 14:06

Оруэлл в действии: когда кредитор платит за проценты заемщику,что тот пользуется его кредитом

Оригинал взят у taotan в Оруэлл в действии: когда кредитор платит за проценты заемщику,что тот пользуется его кредитомКогда имеется в наличии нынешнее условие: стимуляция "спроса сверх платежеспособности заемщика" и когда удешевить кредит уже не выходит,вот тогда придется за это доплачивать:Из-за падения ставки европейского межбанковского рынка Euribor ниже нуля многие европейские банки оказались в парадоксальной ситуации: они должны своим заемщикам проценты по ипотечным кредитам, а не наоборот. Так, испанский Bankinter, седьмой по доле рынка в стране, фактически приплачивает своим заемщикам, вычитая сумму процентов из остатка основного долга. Об этом пишет газета The Wall Street Journal.Стимулирующая политика ЕЦБ привела к значительному падению (часто до отрицательных уровней) процентных ставок, в том числе на межбанковском рынке. В результате по всей Европе банки переписывают компьютерные программы, обновляют юридические документы и пересчитывают финансовые показатели.В таких странах, как Испания, Португалия и Италия, ставка по кредитам, особенно ипотечным, часто плавающая и привязана к межбанковской ставке Euribor. Например, в Португалии под плавающие ставки выдано более 90% из 2,3 млн ипотечных кредитов. В Испании ставки по большинству ипотечных кредитов привязаны к годовому Euribor (сейчас составляет 0,187%), сообщила экономист ассоциации испанских ипотечных банков Ирен Пенья.Оказавшись в ситуации, когда проценты по выданным кредитам должны платить они, а не заемщики, банки обратились за разъяснениями к регуляторам. ЦБ Португалии заявил, что в случае падения ставок ниже нуля банки сами должны нести процентные расходы по уже выданным кредитам, но рекомендовал им на будущее включить в кредитные договоры соответствующие оговорки. Испанский центробанк пока изучает ситуацию, сообщил его представитель. Итальянские банкиры ждут указаний своего регулятора - их кредитные договоры также не содержат условий о падении ставок ниже нуля. По данным ипотечного брокера Mutuionline, в Италии под плавающие ставки выдано около половины ипотечных кредитов, большая часть из них привязана к Euribor.

15 апреля 2015, 13:50

Оруэлл в действии: когда кредитор платит за проценты заемщику,что тот пользуется его кредитом

Когда имеется в наличии нынешнее условие: стимуляция "спроса сверх платежеспособности заемщика" и когда удешевить кредит уже не выходит,вот тогда придется за это доплачивать:Из-за падения ставки европейского межбанковского рынка Euribor ниже нуля многие европейские банки оказались в парадоксальной ситуации: они должны своим заемщикам проценты по ипотечным кредитам, а не наоборот. Так, испанский Bankinter, седьмой по доле рынка в стране, фактически приплачивает своим заемщикам, вычитая сумму процентов из остатка основного долга. Об этом пишет газета The Wall Street Journal.Стимулирующая политика ЕЦБ привела к значительному падению (часто до отрицательных уровней) процентных ставок, в том числе на межбанковском рынке. В результате по всей Европе банки переписывают компьютерные программы, обновляют юридические документы и пересчитывают финансовые показатели.В таких странах, как Испания, Португалия и Италия, ставка по кредитам, особенно ипотечным, часто плавающая и привязана к межбанковской ставке Euribor. Например, в Португалии под плавающие ставки выдано более 90% из 2,3 млн ипотечных кредитов. В Испании ставки по большинству ипотечных кредитов привязаны к годовому Euribor (сейчас составляет 0,187%), сообщила экономист ассоциации испанских ипотечных банков Ирен Пенья.Оказавшись в ситуации, когда проценты по выданным кредитам должны платить они, а не заемщики, банки обратились за разъяснениями к регуляторам. ЦБ Португалии заявил, что в случае падения ставок ниже нуля банки сами должны нести процентные расходы по уже выданным кредитам, но рекомендовал им на будущее включить в кредитные договоры соответствующие оговорки. Испанский центробанк пока изучает ситуацию, сообщил его представитель. Итальянские банкиры ждут указаний своего регулятора - их кредитные договоры также не содержат условий о падении ставок ниже нуля. По данным ипотечного брокера Mutuionline, в Италии под плавающие ставки выдано около половины ипотечных кредитов, большая часть из них привязана к Euribor.

15 апреля 2015, 09:22

"Inconceivable" Negative Interest Rates on Mortgages in Portugal and Spain, with Italy On Deck

The vast majority of mortgages in Portugal, and a huge number in Italy and Spain are tied to Euribor, the rate it costs European banks to borrow from each other.If Euribor drops low, enough banks will have to pay borrowers. It has already happened in Spain.The WAll Street Journal reports Tumbling Interest Rates in Europe Leaves Some Banks Owing Money on Loans to Borrowers. Tumbling interest rates in Europe have put some banks in an inconceivable position: owing money on loans to borrowers.At least one Spanish bank, Bankinter SA, the country’s seventh-largest lender by market value, has been paying some customers interest on mortgages by deducting that amount from the principal the borrower owes.Interest rates have been falling sharply, in some cases into negative territory, since the European Central Bank last year introduced measures meant to spur the economy in the eurozone, including cutting its own deposit rate. The ECB in March also launched a bond-buying program, driving down yields on eurozone debt in hopes of fostering lending.In countries such as Spain, Portugal and Italy, the base interest rate used for many loans, especially mortgages, is the euro interbank offered rate, or Euribor. The rate is based on how much it costs European banks to borrow from each other.Portugal’s central bank recently ruled that banks would have to pay interest on existing loans if Euribor plus any additional spread falls below zero. The central bank, however, said lenders are free to take “precautionary measures” in future contracts. More than 90% of the 2.3 million mortgages outstanding in Portugal have variable rates linked to Euribor.In Spain, a spokesman for the central bank said it is studying the issue. Bankers in Italy said they are awaiting guidance from their local banking association, because loan contracts don’t include any clause on what happens if benchmark rates go below zero. In Spain, Bankinter has been forced to deduct some clients’ mortgage principal payments because an interest-rate benchmark tied to Switzerland’s currency has dipped into negative territory. An executive at another Spanish bank said the lender in recent months has started to put in place an interest-rate floor on thousands of short-term business loans that are tied to short-term variations of Euribor. Two-month Euribor, is at minus 0.004%. For new loans, the bank is increasing the cushion it charges customers above Euribor.Hundreds of thousands of additional loans would be affected if medium-term Euribor rates enter negative territory, the executive said. The six-month rate is currently at 0.078%.In Portugal, interest rates on most mortgages are linked to a monthly average of three- and six-month Euribor. Both have been steadily sinking and are hovering just above zero.Inconceivable PaybackReflections on the Inconceivablelink if video does not play: Princess Bride.Mike "Mish" Shedlockhttp://globaleconomicanalysis.blogspot.comMike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific.

Выбор редакции
14 апреля 2015, 23:14

Ипотека с доплатой

Испанский Bankinter, седьмой по доле рынка в стране, вынужден приплачивать ипотечным клиентам, вычитая часть суммы основного долга. Это лишь одно из последствий падения ставок ниже нуля: по всей Европе банки переписывают компьютерные программы, обновляют юридические документы и пересчитывают показатели.

14 апреля 2015, 23:14

В Испании и Португалии банки, а не клиенты платят процент по ипотечным кредитам

Испанский Bankinter, седьмой по доле рынка в стране, вынужден приплачивать ипотечным клиентам, вычитая часть суммы основного долга. Это лишь одно из последствий падения ставок ниже нуля: по всей Европе банки переписывают компьютерные программы, обновляют юридические документы и пересчитывают показатели.