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Santander: EU Aid to Foster Completion of Bank-Sector Reforms

MADRID--Spain's Banco Santander SA (STD, SAN.MC), the country's largest lender by market value, said Saturday that Spain's plans to request up to EUR100 billion in aid from the European Union for its ailing banks should help complete the restructuring of the country's financial sector. Santander said in a statement that the agreement by the Eurogroup enables Spain's state-backed Fund for Orderly Bank Restructuring to "obtain funds in very favorable conditions. "These funds will go toward recapitalizing those institutions that cannot meet their capital needs with their own resources," the bank added. The capital injections will eliminate uncertainty and contribute to the country's economic recovery, it said. Santander and chief local rival Banco Bilbao Vizcaya Argentaria SA (BBVA, BBVA.MC) are among the local banks that won't require external financial assistance to meet required capital needs, according to International Monetary Fund assessments. Write to Santiago Perez at santiago.perez@dowjones.com

Stock News for Banco Santander (STD)
DateTimeHeadline
06/29/201605:20:00Caixabank Chairman Steps Down to Lead Charitable Foundation
06/29/201604:41:00Caixabank Chairman Steps Down to Lead Charitable Foundation
06/28/201603:02:00Bank Stocks Lead a Global Selloff -- WSJ
06/27/201618:31:00ADRs End Lower; Financial Firms Decline
06/27/201614:26:00Banco Santander Backs Guidance in Effort to Allay 'Brexit' Concerns...
06/27/201614:10:00Branch Closures to Cost Banco Santander 250 Million
06/27/201613:56:00Branch Closures to Cost Banco Santander EUR250 Million
06/24/201618:10:00Bank Shares Plummet Around the World, but Europe Fares Worst
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06/24/201614:50:00European Banks Take Beating After 'Brexit' Vote -- Update
06/24/201613:26:00Spain's IBEX-35 Sees Biggest One-Day Drop in Its History After...
06/24/201609:09:00European Banks Take Beating After 'Brexit' Vote -- 2nd Update
06/24/201605:20:00European Banks Take Beating After 'Brexit' Vote
06/23/201617:10:00Fed Stress Tests: All Big Banks Clear Bar for Capital Requirements
06/23/201608:30:00Poland Looks to Buy Banks From Eurozone Owners
06/22/201608:10:00What to Watch for in Fed's Stress Tests of Big Banks
06/03/201609:01:00Spanish Police Seek Documents From Banco Santander--Update
06/03/201607:30:00Spanish Police Seek Documents From Banco Santander
06/03/201606:29:00Spanish Police Request Documents from Santander in HSBC Investigation
04/28/201603:20:00BBVA First-Quarter Net Profit Slides

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