The chief executive of spain’s largest bank, Banco Santander SA said it has no need to buy mid-sized banks in the country, according to a report.
“We are in a good position. We need no extra capacity in Spain,” chief executive Alfredo Saenze told Reuters on Sunday in response to a question on whether the bank is looking for purchases in Spain.
As the global economic and financial crisis, forces some smaller banks to be receive aid from the nation’s central bank, the authority has indicated it may have to support others. It is encouraging private solutions and mergers, the report states.
In addition, Saenz said the country’s current situation affecting the banking sector was “tricky,” but wouldn’t elaborate, the report stated.