Structured product sales approach pre-crisis highs in Spain, say bankers

Falling deposit rates and positive returns boost sales

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Falling deposit rates in Spain have had a dramatic effect on the country's structured product market, with some bankers estimating sales are back to at least two-thirds of their pre-financial crisis levels. The country's base rate has fallen to 0.25% since the end of 2013, compared with 0.8% at the start of 2012. As a result, bank deposits are now closer to 2% and structured products are looking attractive again, according to Luis Munoz Montijano, head of distribution for Iberia at Societe Ge