One of the leading banks in Europe, CaixaBank has set up its new office at Dubai from where it will be managing its business in UAE. The reason cited behind locating its business in Dubai is that the region's environmental conditions are adequate for the bank's growth.

The CaixaBank's Deputy Chairman and Chief Executive, Juan Maria Nin, said that the Dubai's management techniques and its financial activities are much better than the other locations where its offices are located.

As told by Spanish bank Popular, with forthcoming profits and synergies, they will be very well able to pay large amount of premium for buying their rival company Pastor. Meanwhile, it will also be concentrating on defending its assets with changeable bond issue.

Spanish bank popular is the fifth largest bank of Spain. According to its chairman, the company is ready to pay a premium of 31% for buying Pastor, and this is something reasonable because with this they will surely get the control of the Galician-based bank.

Almost 15% profit is expected by Spain's Popular when it completely overtakes its competitor Pastor by the beginning of next year.

Banco Santander SA is now primarily aiming to become a truly global brand and to achieve its aim. The banking giant, based in Spain, has also started putting its best efforts by applying many new strategies and plans.

In the year 2009, Banco Santander SA introduced Boston-based Sovereign Bank, which has now succeeded big and has become one of the country’s largest regional banks. But recently, the regional bank is now planning to adopt and come under the name of its owner Santander soon.

Sources have revealed that the action of replacement will take place by start of next year.

The central bank of Spain has announced that the recapitalization process of the country's banking system is about to finish. A majority of banks in Spain have touched a Core Tier 1, between 8% and 10%, specified a Spokesperson.

Under the spell of country's law, majority of entitled banks as well as those where private creditors hold a stake of not less than 20% are directed to have a Core Tier 1, 8% or 10%, in case private investments are far away from their reach.

A statement from the International Monetary Fund (IMF) has notified that Europe's debt crisis has pushed the banks towards 300 billion Euros losses that they may incur so the banks should lift up capital to defend the overall economy from more tumult.

IMF stated that the financial damages that have emerged from weak members of Eurozone have adversely affected the banks by fetching them 200bn Euros losses, since the problem which started last year.

Finally some good news is being heard from the debt ridden Europe. It has been reported that the borrowing rates of the Spanish banks has be increased, which means that European Central Bank’s (ECB) efforts to curb the debt crisis is moving in the right track.

It is not only the Spanish banks which have witnessed a surge in its borrowings, Italian banks are also moving in the same direction. Although Spain banks seem to be performing well, the country has not yet been able to come out from the debt crisis. However, it won’t be required any bailouts like Greece’s.

The Euro fell to its lowest, since 2011, in comparison to the currency of Japan Yen.

Juergen Stark quits European Central Bank executive panel, as ECB bought the bonds of countries burdened with huge debts. Germany is looking forward to financially support the banks. Greece is incapable of paying out its debts.

Mr. Stark’s resignation comes after the appointment of German junior finance minister Joerg Asmussen in the executive panel of the ECB. The news of Mr. Stark’s quitting the organisation resulted in the fall of the currency at the index.

While Spain is grappling to consolidate its position in the international market, here comes another bouncer as the cash crunched Banco Cam is struggling to catch hold of its rising debt.

While foreign banks and other private equity players have already refused to get into the already embattled Spanish market, the central bank had no option to left but to be the savior as was done in the case of Caja Castilla La Mancha (CCM) and CajaSur.

As per the reported information, Jean-Claude Trichet, the European Central Bank (ECB) President has recently made a very surprising statement.

He accounted that the Spanish government officials were continuously requesting the region’s bank officials to help them in the fund shortage and cut unemployment problems.

In order to give clear picture about the issue, the President further asserted that the bank certainly had some plans regarding the Spanish bonds purchase in the secondary markets.