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Iberdrola profits increase 12%

Published on Oct. 26, 2012

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In the 3 first quarters of this year, Iberdrola has achieved a 2,401 million Euros net profit, which means a 12% increase over the same period last year. This increase contrasts with the 36% drop of profits in Spain.

This national fall was due to a cutting in networking compensation, a decision passed by the Government in March, but yet to come into force. The cutting does not take into account the effect of the new fiscal measures on the production.

Fortunately for Iberdrola, their turnover in Spain represents only 25% of the group net profit, 616 million Euros. The rest comes from international commerce, which rose 52% in the same 9 months, up to 1,785 million Euros ...

Santander best global bank and CaixaBank best bank in Spain

Published on July 9, 2012

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Last Thursday night, Euromoney held the Awards for Excellence. Santander was named best global bank in 2012 and CaixaBank was awarded best bank in Spain.

This award is not new for Santander. This is the third time that the financial magazine awards this bank during the last seven years. In addition to this title, Santander was also named Best Bank in five of its main markets: Argentina, Mexico, United Kingdom (Santander UK), Poland (Bank Zachodni WBK) and Portugal.

The British magazine highlighted Santander’s profits and solid balance during the financial turbulence that Spain and Europe are going through. Emilio Botín, Santander’s chairman, stressed the solvency and the “great geographic diversification” the bank has and stated that “solid capital ...

Spain European Football Champion

Published on July 2, 2012

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Last Sunday, Spain lifted its third European Championship, but the most amazing fact is that since 2008 the Spanish team has chained two European titles and a world cup in a row.

The summary for this new victory of the Spanish “roja” shall be that on the one hand Spain has a wide rank of high quality football players but together they are more than bright individuals, other European teams have of that too, they are a “team” with a perfectly coordinated strategy, thanks to the knowledge and experience Vicente del Bosque (who has now equalled Helmut Schoen as the only coach to win a European Championship and a World Cup).

All this facts highlight Spain as superpower in the ...

Luis Maria Linde takes hold of the Bank of Spain

Published on June 27, 2012

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The new governor of the Bank of Spain, Luis Maria Linde, took hold of his duties this Monday, a task he defined as "important, honorable and hard" and is assumed heartedly by the responsibility he is being entrusted

Those were Linde´s declarations made during the ceremony held at the Bank of Spain, in which he has been appointed for the head of the bank at the same time that the former president, Miguel Angel Fernandez Ordoñez was removed. The ceremony was atended by the finance minister, Cristobal Montoro, numerous celebrities.

Among the most important tasks to be undertaken at this difficult time Linde highlighted the restructuring of the Spanish financial sector to restore confidence so that the credit floods again enforcing economical activity and for so job creation.

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