Spanish sensibility


Spanish banks are different. Jordi Garcia, global head of operational risk at BBVA in Madrid, always suspected that to be true - now he can prove it. His hunch was that the big Spanish institutions are more focused on retail and commercial banking business than their peers in other countries, which often have large investment banking divisions - and the outsized risks that go with them. More importantly, Spain's banks have standardised around 20 of the most common retail banking procedures, f