You are here: Home » Reuters » News
Business Standard

Emails, SMS & phone calls: aggressive Spanish lending rings alarm bells

Reuters  |  MADRID 

By Jesús AguadoMADRID (Reuters) - Pensioner Willy Clement complains that BBVA, his local bank in Spain, is pestering him with commercial offers for consumer loans.An aggressive push by Spanish banks into consumer lending has raised fears of a return to the kind of lucrative but risky practices that tipped the financial system and economy into crisis a decade ago. The value of outstanding loans for purchases such as cars and holidays has jumped 47 percent in just 3-1/2 years. "They keep sending me credit offers via e-mail, for as much as 30,000 euros ($34,020.00)," said 69-year-old Clement, ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Thu, December 06 2018. 17:37 IST