SPAIN: Our Banks Need Over €15 Billion And Units Of Deutsche And Barclays Need Cash Too

spain

Only hours after Spain was downgraded by Moody’s, its central bank has tried to come clean over exactly how much money its banking sector needs.

The Bank of Spain says 12 lenders need money, including Barclays and Deutsche Bank’s Spanish divisions, according to Bloomberg.

The total funding the Bank of Spain says it needs is €15.15 billion. That’s far less that the higher numbers suggested by both Societe Generale and Moody’s.

Here are the banks in need of capital, according to the Bank of Spain:

  • Bankinter (€333 million)
  • Barclays Bank S.A. (€552 million)
  • Deutsche Bank S.A.E. (€182 million)
  • Bankpyme (€8 million)
  • Bankia (€5.775 billion)
  • Base (€1.47 billion)
  • Civica (€847 million)
  • Mare Nostrum (€637 million)
  • Catalunyacaixa (€1.718 billion)
  • Novacaixagalicia (€2.622 billion)
  • Caja Espana de Inversiones (€463 million)
  • Unnim (€568 million)

Don’t miss: The 14 countries more likely to default than Spain >

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