Santander, owner of the former Abbey bank, has raised coverage for repossessed property in Spain from 31% to 50%.
The eurozone’s biggest bank by market capitalisation decided to anticipate enhanced provisioning requirement for repossessed properties that the new government is expected to announce this Friday. Santander has set aside €3.2bn (£2.7bn) against repossessed property assets.
01/02/12 Financial Times 17
Times 39
Daily Telegraph B4
Guardian 22
