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Santander CEO warns mortgage relief measures may lead to higher provisions
2022.11.22 06:01
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© Reuters. FILE PHOTO: The logo of Santander bank is seen outside a branch in Ronda, Spain, October 25, 2022. REUTERS/Jon Nazca
MADRID (Reuters) – Spain’s Santander (BME:) Chief Executive Jose Antonio Alvarez warned on Tuesday that mortgage relief measures being readied with the government could lead to an increase in provisions and higher capital consumption.
He also said that the bank had still not signed off the agreement with the government though its intention was to do so while he cautioned against a potential increase in the cost of credit.
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