Consolidated savings banks partnerships operating in Spain made a net profit of 3,226million euros between January and September 2010 which is 31.6% less than for the same period last year. <\/p>\n
According to information released by the Spanish Confederation of Savings Banks (CECA) in advance of a report due to be published on the sector\u2019s accounts the average balance of the sector is around 1.29 billion euros and yearly growth is 1.6% in contrast with the evolution of GDP and despite deterioration in the Spanish economy. It also stated that the sector is continuing to apply a policy of \u2018maximum prudency\u2019. <\/p>\n
The interest margin which is measured by the difference between interest obtained and interest paid was en 11,375 million euros. This is 25.7% less than a year ago due in the most part to low interest rates during the first 9 months of 2010 compared to the same period last year. <\/p>\n
Between January and September Spanish savings banks maintained personnel costs at practically the same level and cut administrative costs by 2.7%. <\/p>\n
The results of consolidated savings banks partnerships operating in Spain were 3,878 million euros before tax \u2013 34.9% less than in 2009. Following tax on profit the results for the first 9 months of 2010 were 3,694 million euros \u2013 28.1% less than for the same period last year. <\/p>\n
CECA has not provided any information on levels of defaulting on loans. However according to the latest figures available defaulting was 5.47% which represented a rise of 29 hundredths. <\/p>\n
Credit fell by 1.3% at the close of September compared to last year at 894,197 million euros and deposits fell by 1.8% at 784,757 million euros.<\/p>\n","protected":false},"excerpt":{"rendered":"
Consolidated savings banks partnerships operating in Spain made a net profit of 3,226million euros between January and September 2010 which is 31.6% less than for the same period last year. According to information released by the Spanish Confederation of Savings Banks (CECA) in advance of a report due to be published on the sector\u2019s accounts the average balance of the sector is around 1.29 billion euros and yearly growth is 1.6% in contrast with the evolution of GDP and despite deterioration in the Spanish economy. It also stated that the sector is continuing to apply a policy of \u2018maximum prudency\u2019. <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5326","post","type-post","status-publish","format-standard","hentry","category-sin-categoria"],"yoast_head":"\n