October 4, 2016 / 11:41 AM / a year ago

BRIEF-Competition destroying Spain's banking sector value- Sabadell CEO

Oct 4 (Reuters) - CEO of Spain’s Banco De Sabadell Jaime Guardiola:

* Says competition in Spain’s banking sector is forcing banks to issue loans below their market rate, which destroy value, at a time that they have to retain more capital

* “At current market prices ... and with the cost of capital that the market demands, there is a significant chunk of transactions being done today, with clients of a certain size, that destroy value,” he told a banking conference in Madrid Further company coverage: (Reporting by Madrid newsroom)

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