MADRID, Jan 29 (Reuters) – Spain’s Santander enhanced provisions having bad loans within its household area and you can Latin american main sector last year and you may published down rotten Spanish a home assets, reducing gain more than half.

Santander, the greatest bank regarding the euro area, to your Thursday told you this has today taken this new poor of the aches out-of Spain’s possessions crash five years in the past. But recuperation into the Europe’s suffering economy perform take time.

I do believe our company is now typing a new stage and the recovery are certainly more visible from inside the 2014, President Emilio Botin advised a news conference.

He told you The country of spain, which is in its next credit crunch inside 5 years, try alongside a good period off change shortly after bodies austerity and you may banking reforms enjoys place the nation into a much better footing.