Ratings agency Fitch has downgraded 18 more Spanish banks, a day after cutting its ratings for the country’s two biggest banks, Santander and BBVA – and despite a massive sector bailout.
Among the 18 banks was CaixaBank, the third biggest Spanish bank, and Bankia, which is set to receive billions of dollars in public aid.
Eurozone finance ministers have indicated they’ll approve 100 billion euros ($A127.24 billion) in European financial aid being sought by the Spanish government, to underpin its financial sector, which is weighed down by a huge number of risky real estate loans.
