Dispatches from the Hothouse; Spain  

Oleh:

[s.n]

Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 403 no. 8785 (May 2012), page 8.
Topik: Modernization; Banking Industry; Branch Banking; Economic Conditions; Politics; Bank Technology

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.71 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Spain's two biggest banks, Santander and BBVA, have been expanding their retail operations abroad rapidly in recent decades, and have managed to do so profitably even though their own country's economy is melting down around them. Santander, which a few decades ago was just a small regional bank, now has substantial businesses in ten countries around the world. Almost 90% of its profits are made outside Spain. BBVA, its biggest Spanish rival, has also expanded vigorously outside Spain. Between them the two banks manage more than 20,000 bank branches, most of them outside Spain. Spanish banks embraced modernisation relatively late. Having been trapped in a bubble for many years during the fascist dictatorship, once they were freed they were able to leapfrog rivals in more developed markets. The most important innovation was the rapid and almost universal adoption by bank customers of electronic bill payments. Spain's banks have a huge advantage in not having to process cheques or handle transactions in their branches. They have invested diligently in installing the latest and most effective computer systems, making their banks enviably efficient. Their rapid growth and the economic troubles at home raise some question marks. Even so, they have developed an innovative model of banking that is being exported around the world. It may also hold some clues about what banks elsewhere may soon be doing.

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