The savings banks are selling

Liberbank, Novagalicia, BMN. La Caixa and other Spanish savings banks have made the decision to sell their non-strategic industrial assets.

In addition to raising funds with the sales, which is positive news, the main goal of the process is to meet Basil III requirements. Starting on January 1, these are the new global standards for regulating capital and liquidity requirements, ultimately penalizing financial and industrial investments.

Selling minority holdings signals big changes for some Ibex companies, sending some companies back to the core of their business: making money by making credit and financing deals.