Coronavirus crisis sours €8bn of Santander’s loans
Banco Santander said the economic downturn unleashed by the coronavirus pandemic caused €8 billion ($9.4 billion) of loans to deteriorate in credit quality over the three months to end-June.
The Spanish lender said credit exposures subject to IFRS 9 loan-loss accounting rules amounted to €972 billion in Q2. Of these, €61 billion were classified as stage two, meaning they had experienced a significant increase in credit risk since initial recognition, up from €53 billion in Q1.
Stage three
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Risk Quantum
Risk Management
After bruising EU model review, banks ask: ‘Why bother?’
Post-Trim changes erode capital savings from internal models while raising their running costs
Receive this by email