One of the keys to boosting productivity that could contribute to the economic recovery following the pandemic is the financing of intangible assets. However, to encourage this financing, it is necessary to address changes in the capital regulatory framework, introduce tax incentives, and implement collaboration programs between the public and private sectors.<\/p>\n
These are some of the conclusions from the new session of the ‘Banking Lab’ held today, in which leading professionals from the banking sector, from both the public and private spheres, agreed in highlighting that the countries, sectors and companies that invest more in intangibles grow faster and achieve greater productivity gains.<\/p>\n
Remedios Ruiz, Head of Enterprise Wide Risk Management at Banco Santander, highlighted the need for institutions, authorities and regulators to move forward in shaping a more efficient capital market to finance the transition towards a more digital economy.<\/p>\n
In this regard, she stressed that Banco Santander is developing initiatives to facilitate access to financing for technology and start-up companies, supporting them through all phases of their life cycle, with equity and debt instruments at the earliest stages, and with the granting of bank credit at more mature stages.<\/p>\n
“The growing weight of investment in intangible assets makes it necessary to create an ecosystem in which high-potential companies, regardless of their size, can have the instruments they need for growth,” Ruiz emphasised.<\/p>\n
From BBVA, Rafael Salinas, Head of Global Risk Management, stated that Spain and Europe have an investment deficit in intangible assets. Of the various lines of work that can help close this gap, “one of the most necessary in the long term is the evolution towards an economy with a greater weight of equity financing and less debt”. <\/p>\n
“In this process we must work on three levers: the development of venture capital markets, a review of the capital framework that applies to equity investments by financial institutions, and a balancing of tax incentives across the different ways companies are financed,” he maintained.<\/p>\n
“Financing intangibles is no less important than financing strategic infrastructure or the green economy, so it is advisable to implement measures that promote financing, especially considering that intangible assets are closely linked to digital transformation, one of the objectives of the European recovery funds,” said Joaqu\u00edn Maudos, Professor of Economics at the University of Valencia, Deputy Director of Ivie and collaborator at CUNEF.<\/p>\n
“Given the higher risk involved in investing in intangibles, it is necessary to implement incentives to increase bank financing,” he argued.<\/p>\n
For \u00c1ngel Estrada, Director General of Financial Stability, Regulation and Resolution at the Banco de Espa\u00f1a, “it is considered good practice for institutions to include productivity and profitability of companies among the criteria for granting loans”. In his view, institutions must also transform to digitise and make better and more efficient use of the information they handle. <\/p>\n","protected":false},"excerpt":{"rendered":"
One of the keys to boosting productivity that could contribute to the economic recovery after the pandemic is the financing of intangible assets. However, to encourage this financing it is necessary to address changes to the capital regulatory framework, introduce tax incentives, and launch collaboration programmes between the public and private sectors. These are some of the conclusions from the new session of the ‘Banking Lab’ held today. <\/p>\n","protected":false},"featured_media":38264,"parent":0,"template":"","etiquetas":[],"categorias-blog":[780,781],"class_list":["post-38263","blog-aeb","type-blog-aeb","status-publish","has-post-thumbnail","hentry","categorias-blog-articles","categorias-blog-newsarticles"],"yoast_head":"\n