Enhanced scrutiny of Covid loans at CaixaBank leads to €321m charge
Stock of ‘stage two’ loans increased 48%
CaixaBank overhauled the metrics used to gauge the credit risk of loans covered by Covid relief measures in Q4, which caused it to identify a whopping €6.7 billion ($8.1 billion) as having declined in creditworthiness and take a €321 million provision against future potential losses.
In the three months to end-December, the Spanish lender’s stock of ‘stage two’ loans under accounting standard
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