Spain’s banking sector and, in particular, savings banks, have been undergoing a deep restructuring process since 2009 under the Bank of Spain’s supervision.
In Spain, entities are endeavouring to enhance efficiency by both increasing revenue and cutting costs.
Responsibilities for the economic crisis extend not only to financial entities but also to supervisory bodies and financial regulations.
All financial institutions wish to place the customer at the centre of their strategy and business model. Business is unlikely to be sustainable if this approach is not adopted.
Banks are responding in different ways: by seeking increased profitability (divestment of non-core businesses, sale of unprofitable assets and reduction in operating costs), maximising the use of capital and minimising risks.
PwC’s responses to the industry’s main challenges.
