Prudence, proactive management and strengthening of the balance sheet
Management priorities in 2009
- Major effort in loan-loss provisions, easily supported by the Group’s operating income:
- Proactive management of non-performing assets and provisions in Spain and Portugal, with very selective and low-cost preventive purchases of real estate.
- Developer segment well covered by provisions under an assumption of a high level of loss-given default.
- Preventive provisions in the United States, with a positive impact on the coverage ratio in the area.
- Ample coverage including provisions and collaterals.
- Reduction of non-performing assets entries and increase in NPA recoveries.
