Credits Given by Frob´s Banks Reached €28 Bn in 2013

21/04/2014 – Expansion

During the last year, the Frob (the Fund for Orderly Bank Restructuring) injected capital in shape of ordinary shares into Catalunya Banc, Novagalicia Banco, Banco Mare Nostrum and BFA-Bankia, becoming their main stakeholder. Then, the entities granted jointly €28.132 million in new loans, the Government says. About 42.3% of this amount was lent to big companies (€11.903 million), whereas SMEs obtained 20.7% (€5.818 million) and freelancers around 5% (€1.424 million). Families received the remaining €4.284 million (15.2%).

Spanish lending entities have reduced their staff number by almost 40.000 employees from 2008 to 2012. Addtionally, throughout 2013 another 18.000 people lost their jobs in these banks and right now there are 213.000 workers within the sector.



Original article: Expansión

Translation: AURA REE