MADRID, Oct 18 (Reuters) - Spanish banks face rising bad debt, slowing business and increased financing costs that could hurt their income, Bank of Spain Governor Miguel Angel Fernandez Ordonez said in an interview broadcast on Saturday.
Spanish credit growth levels will not return to those seen in the past and banks must take heed of the slowdown, Fernandez Ordonez told Spanish National Television (TVE).
'They have to realise this because all of it could affect their income statements,' Fernandez Ordonez said in an interview for TVE's Weekly Report news program.
(Reporting by Jesus Aguado; Writing by Andrew Hay; Editing by Swaha Pattanaik) Keywords: FINANCIAL/SPAIN ORDONEZ tf.TFN-Europe_newsdesk@thomson.com ak COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
Spanish credit growth levels will not return to those seen in the past and banks must take heed of the slowdown, Fernandez Ordonez told Spanish National Television (TVE).
'They have to realise this because all of it could affect their income statements,' Fernandez Ordonez said in an interview for TVE's Weekly Report news program.
(Reporting by Jesus Aguado; Writing by Andrew Hay; Editing by Swaha Pattanaik) Keywords: FINANCIAL/SPAIN ORDONEZ tf.TFN-Europe_newsdesk@thomson.com ak COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.