MADRID, March 24 (-) –
The price of the main banks of the Old Continent have registered sharp falls again this Friday, which suggests that the recent interventions by the financial authorities have not calmed the nerves of investors, after the large central banks have continued to rise interest rates despite the turbulence unleashed by the bankruptcy of Silicon Valley Bank (SVB) and Signature Bank in the United States and the Credit Suisse bailout.
Thus, the Euro Stoxx 600 index for the banking sector registered a fall of 2.53% at the close, with Deutsche Bank leading the declines, with a fall of 8.53%.
However, the collapse has been close to 15% at some moments of the day, in which, even, the chancellor of Germany himself, Olaf Scholz, has affirmed from Brussels that Deutsche Bank is a “profitable” entity, for which there is “no reason” to be concerned.
The largest bank in Germany, whose cost of guarantee insurance against non-payment (CDS) has registered a strong increase, announced this Friday its intention to repay early 1,500 million dollars (1,379 million euros) in level 2 subordinated debt of fixed rate, due 2028, on May 24, 2023 at 100% of its principal amount, together with accrued interest up to, but excluding, the redemption date.
For its part, the Danish Sydbank has been the entity that has fallen the most at the close of this Friday, with a decrease of 10.88%, followed by the Scandinavian Nordea, which has done the same with 8.54%.
Subsequently, the Swiss UBS has closed with a decrease of 3.55%, while the titles of the French Société Générale and the German Commerzbank have lost 6.13% and 5.45%, respectively. The titles of the Italian UniCredit have also fallen by 4.06% and those of the French BNP Paribas by 5.27%.
Likewise, the shares of other large European banking entities such as Intesa Sanpaolo, ABN Amro or ING have registered falls of more than 2% and 3%.
In the case of Spain, Bankinter led the falls at the end of the session with a decrease of 5.38%, followed by BBVA (-4.43%), Banco Sabadell (-4.28%), Unicaja Banco (-4 06%), Banco Santander (-3%) and CaixaBank (-2.95%).