Santander, BBVA Ordered To Boost Provisions By EUR 4.5 Bln

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Santander, BBVA Ordered To Boost Provisions By EUR 4.5 Bln

The Spanish government has ordered Banco Santander and BBVA, the country’s two largest banks, to boost real estate provisions by a collective EUR4.5 billion ($5.8 billion) to cover potential losses.

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