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Spain : 70% of its banks will pass IMF stress tests: Spain
Publish Date : 02-Jun-2012
The majority of Spanish banks, 70 per cent, will pass the International Monetary Fund\'s (IMF) stress tests of the country\'s lenders, Economy Minister Luis de Guindos said Thursday.
The IMF will on June 11 publish results of its tests of how Spanish lenders - struggling with bad real estate loans following the 2008 collapse of a property bubble - would fare if the economy were to decline further.
\'What it will say fundamentally is that 70 per cent of Spanish banks are perfectly healthy and that problems are concentrated in the remaining 30 per cent,\' Mr De Guindos told an economic conference in the resort town of Sitges.
Bankia, which is asking the state for the biggest rescue in Spanish banking history, is responsible for \'an important percentage\' of the 30 per cent of lenders \'that have more difficulties\', he added.
