We will be able to compete in the financial consolidation of the Spanish banking sector” Attacks by the North American press towards Spain in relation to the solvency of the financial system have become commonplace in recent weeks. Spanish domestic banking has been one of the most punished by criticism. Banco Sabadell defends itself and assures that the group will be able to “compete in the consolidation of the Spanish banking sector” According to what American television CNBC published a few days ago , Spain's banks are considered a weak link in the global financial crisis . The criticism went further. The North American chain pointed directly to two Spanish entities, Banco Sabadell and Banco Pastor , representatives of medium-sized banks, which, in its opinion, are seen as “potentially vulnerable.” The response from Banco Sabadell has not been long in coming. Sources from the entity, to which El Confidencial Digital has had access , have downplayed the attacks that come from the other side of the Atlantic .
Many of these analyzes are made from the deepest ignorance of the Spanish banking system. They get the impression that medium-sized banks in Spain are bad and they give the first names of entities that come to mind," they comment. The same sources explain that the directors of Banco Sabadell handle data that is "very different" from that reflected in the comments made by CNBC . According to the sources consulted by ECD , these are some of the arguments that NewZealand Phone Numbers 1 Million List the entity has to defend itself from the harsh criticism that comes from the United States included in a report from the rating agency Fitch , which ratifies all of its ratings and improves those of the Bank. Guipuzcoan . -- The document highlights the success of the operation with Guipuzcoano and describes the benefits that arise from it “being part of a larger entity” and “financially solid . ” -- It also considers that the group will be able to “compete in the financial consolidation of the Spanish banking sector .
The rating agency estimates, in this sense, the proven ability to integrate other entities while maintaining solid profitability . -- Another of Sabadell 's strengths , according to Fitch, is its commercial strategy focused on SMEs , which would help it obtain recurring profits. -- The agency influences the entity's deposit-taking capacity and the balanced distribution of the maturity schedule in the wholesale markets. -- Regarding financial solidity data : in capital ratios, Banco Sabadell's Tier I is 8.93 with a Fitch forecast for the end of the year that places it at 9% . The BIS ratio is 10.91 and the default ratio is 4.72% , clearly below the system average. Other sources add that the general impression of those present was that of having held a meeting more of "form" than "substance", with "little technical and practical concretion.