Spain’s Cajas Have 100 Billion Euros of ‘Problematic’ Assets
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The total exposure of Spanish savings banks to real estate and building amounts to 217 billion euros ($297 billion), of which 100 billion euros is classed as “potentially problematic,” the Bank of Spain said.
The banks, known as Cajas, had covered 100 percent of actual losses connected to the industry with provisions and of the “potentially problematic” assets, 38 percent is covered, Bank of Spain Governor Miguel Angel Fernandez Ordonez said in Madrid today.