Loading ...Santander is now Europes largest bank, it is Spanish and therefore chock full of dodgy property loans, to name just one of the thousands of crap “assetts” in its basement. It is the poster child of all that is wrong in the EU…….and then we get this……
All is clearly not well below the surface. Europe’s largest bank (by market value) has admitted in a regulatory filing that it needs to raise capital. As WSJ reports, Banco Santander SA said it would raise up to €7.5 billion ($8.88 billion) in a capital hike, a bid to address long-running concerns among investors and analysts that its financial cushion was weaker than peers. European banking stocks are up over 2% today as Italian banks surge
limit up (BMPS +13%) on speculation that they will be purchased by Santander (who ‘pumpers’ believe are raising this capital to go on a spending spree) and ‘old’ Draghi headlines.