Banesto has said that bad debts on mortgage payments could reach as much as 2% by the end of the year.
President of the bank, Ana Patricia Botín, gave the number shortly after the bank announced profits up 15% for the first half of the year at 449.5 million €.
She said she thought the OECD prediction of 1.6% growth for the economy in Spain this year was low – saying she thought it would be closer to 2%. Botín underlined the good liquidity enjoyed by the bank which has 4 billion € which ‘could be discounted at any moment’.
