Housing crisis drives smaller Spanish banks to merge

10/16/2008 | Financial Times (free content)

The spectacular collapse of Spain's housing market is the fundamental reason for pressure on the country's smaller, unlisted banks to merge or restructure. Although some of the bigger financial institutions, such as BBVA, Santander, Caja Madrid and La Caixa, probably have resources to weather the storm, many smaller institutions do not hold enough capital to cope with nonperforming loans.

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