Opinion on Financial Services in Spain

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Type Product title / description Pub Price
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A Spanish offshore tax amnesty will have to be very lenient to encourage uptake

As part of Spain's tough new austerity package, the government has announced plans to launch an offshore tax amnesty. Such amnesties have been highly successful in other Western European countries such as the UK and Italy, but Spain will have to work hard to encourage wealthy individuals back into the struggling domestic banking sector.

Published By Datamonitor
04 Apr 2012
CommentWire
CommentWire

Abbey/Banco Santander: restructuring program is still the key

Mixed reactions to Banco Santander's [SAN.MC] bid to acquire Abbey [ABBE.L] are perhaps unsurprising given the UK bank's recent woes. However, the Spanish group stands to gain a major presence in UK retail banking. Additionally, Banco Santander could transfer some of Abbey's recently developed competences in wealth management to neighboring European markets.

Published By Datamonitor
27 Jul 2004
CommentWire
CommentWire

Allfunds Bank: UK offering may struggle to replicate Spanish success

Allfunds Bank, a joint venture between Sanpaolo IMI and Abbey's parent Grupo Santander, will launch its third-party distribution platform in the UK. The venture accounts for about half of the third-party fund distribution market in Spain, but the company is unlikely to enjoy the same strong performance in the UK.

Published By Datamonitor
22 Jun 2005
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Alliance & Leicester takeover could signal an end to UK banking competition

Banco Santander announced on July 14 that it had, rather hastily, agreed a deal to take over Alliance & Leicester for a reported GBP1.2 billion. While regulators welcome the move, the deal also symbolizes another nail in the coffin for innovative competition in the UK banking market.

Published By Datamonitor
21 Jul 2008
CommentWire
CommentWire

Banco Atlantico: consolidation in Spain

Arab Banking Corporation has expressed its intention to sell its majority stake in Banco Atlantico, Spain's 15th largest bank. Barclays, Deutsche Bank and other Spanish players are said to be interested in the offer and this process of consolidation will only serve to benefit the Spanish market, making it stronger and more competitive.<BR />

Published By Datamonitor
23 Jun 2003
CommentWire
CommentWire

Banco Espirito Santo: eyeing Spanish high net worths

Banco Espirito Santo (BES), Portugal's third largest private sector bank, is reportedly planning to attract 15,000 new wealthy clients in Spain by opening four or five new private banking offices by the end of 2005. The ability to use its existing client base as a tool to leverage new business will be central to ensuring BES achieves its ambitious targets across the border.

Published By Datamonitor
17 Aug 2005
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Expert View

Banco Sabadell using cash to push mobile payments

Banco Sabadell's Instant Money service highlights a growing trend among banks looking to use ATM cash withdrawals as a means of promoting mobile payments. However, getting the balance right between convenience and security is key to success.

Published By Datamonitor
28 Jun 2013
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Expert View

Banking sector reform in Spain hangs in the balance as global hedge funds remain cautious

Recently, large hedge funds including Paulson & Co. have shown interest in the struggling Spanish savings banks. However, Moody's has lowered its credit and deposit rating for 30 Spanish banks and downgraded the country's credit rating from Aa1 to Aa2 status. As the savings banks scramble to secure foreign investment, increased pressure is being put on already heavily burdened government funds.

Published By Datamonitor
29 Mar 2011
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Expert View

Bankinter: cloud NFC a big blow to telcos

Bankinter's plans to launch a mobile payments service that bypasses the need for a handset's secure element highlights a major shift in the market dynamics for mobile NFC payments. Despite Bankinter's activities being heavily concentrated in Spain, its plans spell bad news for telcos and smartphone manufacturers globally, as this approach would remove them from the NFC value chain.

Published By Datamonitor
07 Mar 2013
CommentWire
CommentWire

Barclays: build-up in Spain?

With a second acquisition, Barclays [BARC.L] could triple its size in the Spanish market within a year. Buying Atlantico [ATL.MC] would save Barclays integration costs and allow it to reach a number of new client segments. Offering customers innovative lending products that stem from the UK is a winning strategy for Barclays in Spain. Only a deflating housing market could ruin the fun.

Published By Datamonitor
01 Dec 2003

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