Le Banche europee stanno vendendo i ” gioielli della corona ” sotto la pressione degli enti di regolamentazione che richiedono un aumento del capitale per prepararsi ad ulteriori problemi di liquidità derivanti dalla crisi dell’euro .
Le vendite riguardano principalmente l’America Latina dove stanno passando di mano molte attività altamente profittevoli .Il Banco Santander ad esempio , oltre a vendere la divisione assicuratrice brasiliana alla Zurich Financial Service AG per $ 1.7 miliardi ha anche venduto azioni per $ 958 milioni del Banco Santander Chile alla Corpbanca del Cile .
La vendita è purtroppo il modo più economico per approvvigionarsi di liquidità essendo caduto drammaticamente il valore delle azioni bancarie , in qualche caso del 50% .
La preoccupazione è che tutto ciò possa avere effetti perversi nel lungo periodo danneggiando la profittabilità a lungo termine delle Banche europee.
European banks, under pressure from regulators to bolster capital, are selling some of their fastest-growing businesses to competitors from outside the region — at the expense of future profit and economic growth.
Spain’s Banco Santander SA (SAN), Belgium’s KBC Groep NV (KBC)and Germany’s Deutsche Bank AG are accelerating plans to exit profitable operations outside their home markets. Santander, which said in October it needs to plug a 5.2 billion-euro ($6.9 billion) capital gap, sold its Colombian unit last week to Chile’s Corpbanca for $1.16 billion. Deutsche Bank is weighing options including a sale of most of its asset-management unit, while KBC may dispose of businesses in Poland.
Such sales risk hurting long-term profit, just as Europe enters recession, investors say. It’s the unintended consequence of the decision by European regulators to make banks increase core capital to 9 percent by June instead of 2019. Unwilling to raise equity because their share prices are too low, lenders are selling profitable assets because they’re struggling to find buyers willing to pay enough for their troubled loans to avoid a loss that would erode capital. Investors say the sales risk leaving banks focused on a stagnant economy and deprive them of economic growth from outside the region.
“These are the most profitable parts of their business,” said Azad Zangana, European economist at London-based Schroders Plc, the 200-year-old British asset manager, citing Spanish and Portuguese banks selling assets in Latin America. “They’re being forced by regulators to sell them off. You begin to become a less profitable organization. Your business model stops working if you’re being forced to lend only to an economy that’s going through a very deep recession.
Fonte : Bloomberg