The consulting firm Neovantas has urged Spanish financial entities to take advantage of the current period of prosperity to consolidate "competitive advantages" that can serve as a shield if the economic context turns adverse.
"Entities must take advantage of this period of prosperity to create sustainable competitive advantages that allow them to face difficult futures, which will surely come, both from within the same sector and from the entry of new participants and/or significant changes in the environment," said the president of Neovantas, José Luis Cortina.
According to the firm, the six listed banks of the Ibex 35 obtained 9.481 billion euros in Spain in the first half of the year, representing an increase of 9.1% compared to the same period of the previous year.
Furthermore, it has detailed that net interest income (interest margin) grew by 3.8%, to 15.731 billion euros, while commissions advanced by 4.9%, to 6.033 billion euros.
"The outlook for results of large Spanish banks appears positive for this year and, I would even say, for the following ones," Cortina indicated, who, however, emphasized that the scenario remains "very uncertain." "We are favorably surprised by the resilience capacity of large banks in the uncertain environment we live in," he added.