Santander
Santander has no liquidity problems
Spanish banking giant Banco Santander SA (STD: 11, 0, 0%) has no liquidity problems, Vice Chairman Matias Rodriguez Inciarte said Thursday.
Speaking at a conference in northern Spain, Inciarte said Santander has funds deposited with the European Central Bank and its strategy of offering deposits at 4% is aimed at gaining clients and market share.
"It's totally unrelated with liquidity," he said.
Inciarte also said his bank supports the decision by Spain's central bank to disclose the results of stress tests on individual banks.
"When these data are made public, it will take away any doubts about the solvency of the system and almost all the banks," he said.
(Published by Fox Business – June 17, 2010)