Unicaja threatens that if the bank tax ends up going ahead, it will force them, once again, to appeal it in court. This is what Isidro Rubiales, CEO of Unicaja, said in the 31st Financial Sector Meeting organized by ABC and Deloitte.
“Taxes are easy to impose and difficult to remove,” indicated the CEO of the Andalusian entity. He has also criticized that “Sometimes you have the feeling that it is more of a fine than a tax” because of how it is configured. In his opinion, he said, it creates “legal uncertainty and stigmatizes the sector.”
Apart from the criticism of the tax, the manager has intoned the ‘mea culpa’ of the sector for not having been able to convince the political groups that it is not a good idea to have a tax on the banks nor capable of transmitting the contribution that they do for society.
Beyond the tax, Rubiales has made another wake-up call to his own union. The banks’ lax policy when granting credit in the 90s and 2000s was one of the triggers for the great crisis of 2008. Mortgages and credit to companies with few filters that ended up defaulting. The sector has learned from that experience and now they are even asking to handle the situation better than then. Unicaja is one of those entities that has demanded a better risk policy.
“We are all going to compete in a market in which we expect a lot of demand for credit,” said the CEO, adding that “prudent risk policies” are needed at this time and “do not fall into risks of the past”in reference to what happened with the great crisis.
Now entering the ins and outs of Unicaja, Rubiales has released two messages about the business. “We are going to combine the territorial banking model with the ability to be a national bank”he has indicated. As highlighted, there is no conflict between being an entity very close to its clients in territories such as Andalusia and maintaining a high growth potential in the country as a whole, especially in areas where they have less presence.
Likewise, the CEO of Unicaja has indicated that they cannot “be a bank with such a high weight of the mortgage portfolio.” That is why it has commented on its commitment to diversifying its businesses, that is, continuing to focus on individual banking but making a particular effort in business banking.
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