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Competitive Strategies in European Banking$
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Jordi Canals

Print publication date: 1994

Print ISBN-13: 9780198773504

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198773504.001.0001

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The Spanish Banking Industry

The Spanish Banking Industry

Chapter:
(p.101) 4 The Spanish Banking Industry
Source:
Competitive Strategies in European Banking
Author(s):

Jordi Canals

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198773504.003.0005

This chapter provides a brief historical background of the Spanish financial system, which has experienced significant changes over the course of the last 13 years at varying rates, though a sense of purpose has persisted and ultimately served to create a modern and open financial system. It notes that, from a market point of view, important changes have occurred in banking activities due to the attitudes of families and firms regarding financial intermediation and the deregulation process. The chapter explains that the concept of liberalization has been the driving force behind the process of reform, and that deregulatory activity in the banking industry has been constant. It adds that financial innovation has also caused changes in the system, creating new products and markets, increasing competition between institutions, and presenting new challenges to the financial authorities. The chapter discusses the structure and trends in the industry and analyses the Spanish banks' profitability.

Keywords:   financial system, financial intermediation, deregulation process, liberalization, financial innovation, profitability

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