Spains CaixaBank Stands firm this is good NEWs for property Buyers04/10/2012
Leading Spanish banking group, la Caixa Group, has comfortably passed the financial stress tests ordered by the Government and the bank’s international property partner has welcomed the results as “great news for buyers.”
The tests, conducted by Oliver Wyman, an independent consultancy firm, under the supervision of Spanish authorities, the European Commission, the European Central Bank, the European Banking Authority and the International Monetary Fund showed la Caixa’s surplus in the adverse scenario would stand at 5.72bn euro, with a Tier 1 capital ratio of 9.5%, 3.5% higher than the minimum of 6%.
The bank is a property and lending partner of Mortgage Solutions, whose buyers are offered big discounts on Costa homes and low cost mortgages from la Caixa and other leading Spanish banks.
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