スペインの銀行再編基金:FROB(Fondo de Reestructuracion Ordenada Bancaria)は、不良債権(貸し倒れ)で破産して国有化されたBankia, Catalunya Banc, Novagalicia Banc を赤字を解消して売却したいが、現在の経済状況では非常に困難
Negro panorama para la banca pública
El FROB estudia limpiar y vender Catalunya Banc y Novagalicia
La entidad considera que las nacionalizadas no se revalorizarán con el tiempo por la crisis
Pocas ventajas en la unión con Bankia
Íñigo de Barrón Madrid 8 MAY 2013 - 00:01 CET
Black outlook for public banking
The FROB looks clean and sell Catalunya Banc and Novagalicia
The company considers that the nationalized not revalued over time by the crisis
Few advantages in union with Bankia
Barron Inigo Madrid 8 MAY 2013 - 00:01 CET
The macroeconomic situation of recession and soaring unemployment is making the life to all entities, but even more to those who have received aid and have to sell part of its business in a down market. With this scenario, the report commissioned by the Fund for Orderly Bank Restructuring (FROB) to McKinsey is not hopeful. After the failure of the auction CatalunyaBanc, the public body, chaired by the Deputy Governor of the Bank of Spain, Fernando Restoy, asked the experts for profitable solutions state involvement in the three nationalized entities: Bankia, CatalunyaBanc and Novagalicia.
Has been told this newspaper, McKinsey believes that the Catalan and Galician entities, unlike Bankia are in liquidation, are not going to revalue over time, but the opposite. That is, if the government's plans were expected to recover part of public funds buried in these two banks, it is best to change tactics and speed up the sale. Therefore, a possible solution to form a holding company uniting the two banks Bankia has lost steam.
So far, taxpayers have gotten into the Catalan 12.050 million and 8.981 million in the Galician. Both figures are still more money than in Bankia, in proportion to their size. Within days, the FROB will make a final determination on this matter.
But what everyone seems to agree on is that there will be buyers if the offer is not changed, especially after the failure in Catalunya Banc March. As Brussels does not allow more credit default protection, the asset protection scheme (APS), which shuffled the FROB, the Bank of Spain and the Ministry of Economy is clean of bad assets and sell the two banks after boosting its value trademark and their traditional roots.
And what to do with bad loans and investments? What we propose is to move them to Sareb. The Memorandum of Understanding (MoU) can lead to bad bank assets are damaged but not real estate, so that the Government considers that this output is compatible with European standards. Industrial portfolios and other businesses that have value could be separated to alienate together, if more resources are obtained.
There are three options: two involve merging entities, the other clean and sell
In the report there are three possibilities. The first is to create a kind of "cold fusion", as were the boxes SIP in 2011 or a similar entity Argentaria. It would unite the treasury, liquidity management, trade policies, the central and computing costs around Bankia. It was a solution for some agencies, but creates legal problems, because it would be "almost a fusion of the core business, which is rather like banks together. Brussels does not look good this with the current macroeconomic environment because he knows how it starts but not when it ends ... and does not want more public banks, "said an executive familiar with the situation. The second output is a smooth merger with few common services. Some experts suggest that to do something, "is now the FROB, which could fly commercially the two entities." Finally, the most drastic version: speed up the sale after thorough cleaning.
McKinsey theory agrees with the statements of the key executives of the big banks who recognized that they were benefiting from the weakness of some public banks "to remove customers taking advantage of the market mess," as admitted Alfredo Saenz, Santander former number two .
A financial problems, joins in the nationalized banks have reputational problem the preferred course, they are pushing the flight of deposits. In addition, office closures, downsizing and restrictions on commercial activity by European imposition, make it harder to make a profit. "They fight against many fronts at once. Apart from the quality of their managers, which is not the same in all cases, it is very difficult to survive in this environment, "says a competitor.
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