MADRID (Business News) - Spain's second-largest bank BBVA said on Monday it would set aside provisions worth around 1.8 billion euros ($ 2.3 billion) to meet new capital requirements demanded by a sector reform passed on Friday.
Spain's government said last week lenders must set aside 30 billion euros, on top of 54 billion euros ordered in February, as provisions against toxic real estate assets.
It is Spain's fourth attempt to reform a sector battered by the 2008 property crash.
The additional capital would be reflected in full-year earnings figure and would have a net impact of around 1.3 billion euros, BBVA said.
Meanwhile, Spain's Banco Popular said on Monday it would set aside provisions worth 1.7 billion euros and added it would not need state aid to raise the cash.
Banco Popular, Spain's fifth largest bank by assets, said it would take two quarters to meet the requirements.
The statement followed many of the country's banks, which detailed their own plans to raise provisions ove r the weekend.
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