There is no way. Few are those who understand why the actions of Spanish banking, and especially that of CaixaBank and Banco Sabadell have been so punished after the presentation of their results.
Understanding the issue better
A well-known commercial banking banker said he was bewildered by the fall in the stock market of both financial institutions. “Your results are not that bad. In addition, in the case of Banco Sabadell the negative effect of TSB was already known from the previous quarters, so there was no surprise. In addition, the bank has already closed this problem and has already cleaned up its real estate portfolio, almost at a stretch. I do not know what the market is analyzing, maybe the future prospects, in which something escapes me, “reflected this well-known banker, who, being something of Sabadell, is his rival because they operate in the same market niche.
Credit Suisse also considers the punishment on the stock market of Spanish banks unjustified, since the fact that the ECB delayed the interest rate rise that would benefit the margins of these entities is already included in its current valuations. No new falls are justified. The latest report of this Swiss bank analyzes the results of CaixaBank, Banco Sabadell and Bankia, the three most punished domestic.
The bank seems to have not lifted its head for a decade
Its profitability remains very low, with exceptions. But it is also true that, in general, the banking sector in Europe is equal or less profitable.
There are also few who understand what is happening with the sandbox project (literally, sandbox) that the Government had planned to approve last year and for which some months ago nothing has been heard again. It was one of the star projects on the agenda of the Spanish Government of both the PP and the PSOE.
Spain was going to become one of the pioneer states in Europe and almost the world in the implementation of a controlled testing space to carry out technological innovation projects without regulatory risk.