June 17, 2019 / 9:04 AM / 4 months ago

Spanish banks must not relax lending standards - Bank of Spain

MADRID, June 17 (Reuters) - Spanish banks should not relax their standards related to lending to consumers, Bank of Spain Governor Pablo Hernandez de Cos warned at an event in Santander on Monday.

“It is essential that banks do not relax lending standards so as to minimise new entries of non-performing loans and maintain active management of their doubtful and allotted portfolios,” De Cos said.

Consumer lending rose over 40% between the end of 2015 to end of 2018.

Spanish banks are still suffering from the effect of reducing toxic legacy assets left on their balance sheets after the burst of the real estate bubble in 2007. (Reporting By Jesús Aguado; editing by Paul Day)

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