NEW YORK, NY--(Marketwire - Oct 5, 2012) - European banks have rallied back in recent months as stimulus measure announced by central banks have eased concerns of a major economic slowdown. Borrowing costs in Spain were eased Thursday following the successful completion of a major bond sale. The Paragon Report examines investing opportunities in the Foreign Banking Industry and provides equity research on Banco Santander, SA (
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A review conducted by financial consultant Oliver Wyman showed that Spanish banks would only need approximately EUR 53.75 billion ($69.15 billion) of additional capital. Banco Santander and BBVA were among seven banking groups that have exceeded the minimum capital requirements according to Wyman's assessments.
"The results confirm that the Spanish banking sector is mostly solvent and viable, even in an extremely adverse and highly unlikely macroeconomic setting," said Wyman.
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Banco Santander is a financial group operating principally in Spain, the United Kingdom, Portugal, other European countries, Brazil and other Latin American countries and the United States, offering a range of financial products. The company reported net profit in the second quarter 2012 fell almost 93 percent to 100 million euros ($121.37 million), compared to 1.39 billion euros in the year ago quarter.
Banco Bilbao Vizcaya Argentaria SA is a customer-centric global financial services group founded in 1857. The Group has a solid position in Spain, it is the largest financial institution in Mexico and it has leading franchises in South America and the Sunbelt Region of the United States.
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