Executive Director of Bankia José Sevilla said that since 2009 the amount of mortgage payments Spanish families are the lowest in Europe, and this is forcing the banks to change the strategy to avoid losing benefits. This is reported by the news agencies of the country.
Sevilla said that the cost of credit is reduced for both companies and private persons, which reduces the difference between the rate on borrowed funds and lend the bank. For this reason, he called for "deep revision" model of distribution of funds, the main purpose of which was to the client to offer him "a better quality of services."
The banker also said that the process of deleveraging in the private sector continues to this day and it is quite compatible with the normalization of the situation in the field of lending. Sevilla warned that "the size of the credit pie", distributed among banks, decreased by 21% compared with the maximum period of 2010.
Sevilla said that for the first 9 months of this year the number of new loans granted to it by the bank increased by 40%. Their total size amounted to 12.653 billion euros. 85% of these funds was business segment. «Bankia gaining market share through the provision of loans to firms and consumers - two priority groups for the bank", - concluded the expert.
