The families get into debt. The banks win
25.01.2006
We all know about the continuous increase of the familiar indebtedness that it is taking place in Spain. Most of the families have a mortgage carried away, some personal loan and perhaps a credit car. The banks and boxes rub the hands with the current situation because they see increasing his benefits of considerable form.
For sample two recent articles about “the good march of the banks”:
The Popular Bank increased his benefit 34,8 % in 2005
Finished article in The Country
The Popular Bank obtained an attributed net profit for 877,74 million euros in 2005, what supposes an increase of 34,8 % with regard to 651,36 millions that won the previous year, he informed today the entity the National Commission of the Stock market (CNMV).
These results, which overcome the forecasts of the analysts, were possible thanks to the minor provisions that the entity had to provide for possible insolvencies and to the dynamism of the credit business, which grew 22,4 %. The business of the mortgage credit behaved especially well and increased 25,6 %. Yesterday, Box Madrid also announced that the reason of the progress of his results is a fruit of the good march of the credit business.
Box Madrid wins with the mortgages
Finished article and more information in CARDINAL MAGAZINE
Box Madrid obtained in 2005 a net profit for 841,26 million euros, what supposes an increase of 17,1 % with regard to 2004, when it gained 718,4 millions. This progress of the numbers takes as a prime mover the increase of the credit activity in 26,5 % up to being located in 72.558 million euros. In particular, the mortgages have promoted 34 % and the credit to companies, 28,2 %; while, the expenses have increased of moderate form, 2,2 %.
The margin of development of the entity of Madrid, which better reflects the activity purely bank, grew in 26,8 % and the business volume was located in 180.177 million euros, 21,6 % more than in 2004.
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