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Wednesday, July 6, 2022

González-Bueno (Sabadell) assures that he sees no worrying signs of crime

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Defends that there is still “healthy” credit demand with “affordable” interest rates


The CEO of Banco Sabadell, César González-Bueno, has assured that the analyzes carried out by the bank on late payments at an aggregate and individual level do not reveal any worrying figures, which he assures at the same time there is still a “healthy” demand for mortgage loans and has argued that interest rates are still “affordable and reasonable”.

This was during his speech this Tuesday at the XXXIX. APIE seminar “Sustainability and digitalisation: the levers of recovery”, where he assured that the net impact of tailwinds due to interest rate hikes and the repricing of certain assets and headwinds due to the slowdown in the “uncertain” economic recovery is “in all scenarios drawn clearly positive”.

Sabadell analysts forecast the Spanish economy to grow by 4.4% in 2022 and around 3% in 2023. In addition, the rise in interest rates comes in a healthier situation with corporate and family debt at 103% of GDP 58%, compared to 141% and 85% in 2010.

According to the CEO, at the moment the forecast points to growing GDP and non-performing loans not being a problem. “Crime doesn’t seem to show numbers that are of any concern at all in all the analyzes we’ve done, aggregated and customer-by-customer,” he said.

Regarding the impact of the most negative panorama on credit demand, the CEO of Sabadell has highlighted that the demand for mortgages is active in relation to historical situations, but not out of context as was the case in 2008, since the debt of Families is at 58%, compared to 85% in 2010, so he believes “the capacity and space is there”.

In addition, he pointed out that the development of demand depends on expectations. “It is not easy to predict whether demand will increase or decrease. At the moment there is a healthy demand for mortgages and despite the media hype, interest rates are still absolutely affordable and reasonable,” defends González Okay.

Source europapress.es

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