Saturday , July 24 2021

The bank's reputation again & # 39; pay for BBVA and Santander

the The Spanish banking emerged from last year & # 39; crisis more balance b & # 39; his health after a marked reduction of toxic assets in the portfolio. However, the bailout, unfair terms, evictions or preferred ones are still very present in the perception of society on the sector.

Although with a little self-criticism, the entities are aware that past bad practices were a serious blow to the reputation of the financial industry, it needs more than ever to customer confidence continue to run your business and raise your profits. "The bank has a bad reputation, so it is difficult to maintain profitability," Gonzalo acknowledged Gortázar. CEO & # 39; CaixaBank, The last year.

However, the sector effort to clean its image for years you & # 39; & # 39 disappears in; second seconds before the infiltration & # 39; surprising news that does not help clients to "want" a little more to bankers. Risk & # 39; sector reputation, seemed to spread after leaving behind the worst years of the crisis, again & # 39; behind in & # 39; recent months. First, a dispute that the bank did not issue, as was the mortgage open in October about tax documented legal acts (AJD). They stated that the entities have always complied with current legislation and aware of the damage their image was again & # 39 others suffering;, banks showed their disappointment by returning that were like the "bad guys" with phrases like "nobody defends bank& Rdquor; or "We do not enforce mortgage customers to come and m & # 39; not have to pray for forgiveness every day."

Now, and at the door of the presentation of the annual results, the crisis & # 39; sector reputation has grown strongly, and this time with – & # 39; & # 39 merits; its own. The scandal which, allegedly, t BBVA rental company in 2004 the former commissioner Villarejo, the Cenyt Group, inspiring on politicians, journalists and businessmen over – IP. t assault & # 39; Sacyr to body Causing considerable cost & # 39; the image.

The news was & # 39; shot & # 39; real sector, which believes that "even if not true, the suspect has already caused very serious damage to our reputation& Index, indicate a national financial institution. The new Chairman of BBVA, Carlos Torres, Acknowledged in a letter sent to the bank staff has been hired Villarejo at that time, but ensures that has been discovered no evidence of espionage. Obviously, he announced that "it will take – internal measures to proceed", b & # 39; reference – figure & # 39 ;. T Francisco González, currently has the honorary presidency of the bank.


The reputation of the sector also decreased in & # 39; the last weeks of the initiation of the trial for the Bankia IPO and, more recently, the return Santander in – signing & # 39; Andrea Orcel as the new CEO. "They made a fool of themselves and few believe the official version that the body does not know the details of the manager's costs," criticizes the national fund manager.

Does & # 39; this – "bankrupt operation" is now added the – decision & # 39 ;. T National audience to attribute to – bank presided over. t Ana Botin in the process of studying the possibility irregularities committed by Popular during the stage Ángel Ron and Emilio Saracho. Decision of the Cantabrian entity has already announced it will appeal.

"The reputation is important, and many, and the governor of the Bank & # 39; Spain has already requested measures to mitigate the risk of & # 39; impropriety" t

by – not answered those – past events, yet,. T Spanish Banking Association (AEB) to, consulted with & # 39; this device, preferred not to make assessments despite the fact that the president & # 39; association, José María Roldán, spoke at & # 39; several occasions about the risk & # 39; the bank's reputation, though always clarified that "it is not possible to generalize & rdquor";

Anyone who begins to be clearer in – his warnings – important again & # 39; obtains – prestige – sector is what is Bank of Spain. The governor Pablo Hernández de Cos took advantage of this – week & # 39; to – his intervention – IX Investor Day in Spain to ensure that the bank should make "a special effort to improve its reputation and introduces measures to mitigate the risk of committing inappropriate behavior." Message that the agency is already equal to the need to accelerate the reduction of & # 39; toxic assets, and strengthen capital, improve profitability or face the process & # 39; digitization.

These – all open fronts are added -. T consumers for unpaid savings. Or generalized loss occurred in the last year in products, allegedly, a & # 39; lower risk.

Aware of the importance of & # 39; industry to the economy, the government also wanted to stay & # 39; excluded from the debate. The Minister & # 39; Economy, Nadia Calvino, – warned this Friday with – serious risk posed by – specific event & # 39 ;. t BBVA the image of the whole sector, which requires all entities working to improve their reputation. B & # 39; that the only way they can also improve their profitability.

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