Spain

José M. Pastor and Javier Quesada

Chapter 11 in Banking in the New Europe, 2002, pp 253-287 from Palgrave Macmillan

Abstract: Abstract Well before Spain joined the Common Market, a group of economic sectors was concerned over how to adjust to the new conditions successfully. The financial sector in general, and especially the banking sector, was the clearest exponent of a rapid and continuing adjustment to the new atmosphere imposed by the new competitive panorama. This reaction accelerated over recent years as the Spanish banking system (SBS) became involved in multiple processes of change, namely the introduction and adjustment to new technologies, liberalisation, internationalisation, globalisation and deregulation. These processes were sometimes pushed by the authorities, following EC Directives, as well as by the banks themselves. Different strategies, including, among others, mergers and acquisitions and the establishment of cooperation agreements, were followed in order to adapt institutions to the new conditions imposed by the SMP.

Keywords: Interest Rate; Commercial Bank; Banking Sector; Scale Economy; Foreign Bank (search for similar items in EconPapers)
Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-59999-4_11

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DOI: 10.1057/9780230599994_11

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