The president of Ibérica Press Group, Javier Moll, emphasized that banks have secured a stronger position and stand on firmer ground today. Speaking at the Finance Forum hosted by Prensa Ibérica and Grant Thornton at the InterContinental Madrid, Moll reflected on the lessons learned by the Spanish banking sector from the 2008 crisis and addressed the effects of recent shocks, including the COVID-19 pandemic, the turbulence surrounding Credit Suisse, and the collapse of three major U.S. banks this year.
Moll highlighted the European Central Bank’s stress tests, which pointed to greater resilience and robust health across Spanish financial institutions. He also warned that vigilance remains essential in a climate where the ECB continues to raise interest rates to tame inflation. Higher rates inflate the cost of credit and can pose repayment challenges for some borrowers.
Despite heightened uncertainty as geopolitical tensions shape a less predictable macroeconomic path and potential effects on employment and business activity, Moll noted, the current moment could exert downward pressure on bank asset quality and a dip in credit demand. Yet solvency and profitability are expected to strengthen for many institutions as the sector remains fortified by solid capital bases and disciplined risk management.
Guindos warns of high optimism and “compressed” risk premia in markets
Against this backdrop, Moll pointed to the recent solid performance of Spanish banking. Among the six major Ibex 35 banks—Santander, BBVA, CaixaBank, Sabadell, Bankinter, and Unicaja Banco—aggregate nine-month results show earnings of 19.761 billion euros, up 23.4 percent from the same period a year earlier. This growth coincides with higher official Eurozone rates, now around 4.5 percent, underscoring how a shift in monetary policy has benefited the sector while keeping an eye on emerging risks ahead.
Looking further ahead, Moll identified two central challenges for the Spanish banking landscape. First is the ecological transition, with the sector playing a pivotal role in financing investments that fuel a green economy capable of delivering zero emissions. Second is digital transformation, which demands substantial resources to adjust business models to rapid technological advances and evolving customer expectations.
Taken together, the discussion portrays a banking sector that has shown resilience through prior crises while continuing to tackle the dual tasks of financing a sustainable green economy and pursuing ongoing digital modernization. The overarching message remains one of cautious optimism, anchored in strong capital bases and disciplined risk management as institutions navigate evolving regulatory and market conditions.