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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
06/14/201203:03:13Spain Bank Audit to Reveal up to EUR65 Billion Capital Needs...
06/12/201217:47:09ADR REPORT: Shares Close Higher Amid Hopes for Euro-Zone Banking...
06/12/201217:36:33Brazil Real Closes Weaker; Market Tests Central Bank; Investors...
06/11/201213:30:10Spanish Banks Face Pain Despite EU Help
06/11/201213:20:14Bank Bond Investors Take Heart From Spanish Bank Bailout
06/11/201213:00:03Fitch Downgrades Spanish Banks
06/11/201207:59:27Spanish Bank Debt Insurance Costs Drop On Bailout Loan
06/10/201221:02:30Spanish Banks Expect Government to Ask EU for EUR60 Billion -Report
06/09/201216:55:37Santander: EU Aid to Foster Completion of Bank-Sector Reforms
06/08/201216:28:12Banks Brace for Moody's Downgrades
06/08/201208:26:16EUROBONDS: Spanish Bank Fears Take Toll on Debt Sales
06/06/201217:31:44ADR Report: Shares Higher As European Banks Rally
06/05/201203:46:10Norwegian Air in Dispute with Spanish Lender Santander -Report
06/04/201217:38:15ADR Report: Shares Inch Up as European Bank Stocks Rebound
06/04/201211:00:06Santander's Botin: EU Contribution to Spanish Banks Could Solve...
06/04/201210:44:32Santander Chairman Says Brazil Is "Top Priority" - EFE
05/31/201211:13:48Peru's Cabinet Unveils Changes To Private Pension Funds
05/30/201217:41:05ADR Report: Shares Lower As Spain Worries Weigh On Financials
05/30/201217:24:08World Better Prepared For Crisis Than In 2008 - Mexico's Ortiz
05/30/201213:29:07Santander UK Prices Sterling, Dollar Mortgage-Backed Bond Issue

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