Spanish banks need to set aside further provisions totalling some EUR 50 bn on property assets hit by the collapse of the housing bubble and the subsequent European economic crisis, according to economy minister Luis de Guindos. In an article in The Financial Times, De Guindos said it was vital that banks clean up their balance sheets without imposing a burden on the government.
Legal & General Investment Management’s (LGIM’s) managed fund has acquired Tesco Yarrow Road Poole from clients of abrdn for £46.1 mln (€54 mln).
