The pace of global economic growth has stagnated in recent years, but since late 2013, Spain has once again registered growth rates close to its potential and has laid the foundations to consolidate sustained growth near 3%, largely explained by competitiveness gains and the internationalization efforts of Spanish companies.
However, Spain still needs to address several essential adjustments to increase its growth potential. In an unfavorable economic scenario, the consolidated balance sheet maintains a growth rate of 9% for the second consecutive year, reflected in the increase in customer loans and deposits, with the LtD (Loan to Deposit) ratio remaining stable and funding requirements for this item at minimum levels. Non-performing loans continue to decline and coverage levels continue to increase.
