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  • Navigating the Wave of Inflation

    19 IESE Banking Conclusions

    See video
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12
  • PROGRAM
  • WHO IS WHO
  • FEES
  • INDUSTRY INSIGHTS
  • PREVIOUS EDITIONS

Surfing the Wave of Uncertainty

The year 2023 was a great year for Spanish banking, given the fact that the five largest banks obtained a combined profit of more than €26.08 billion (0.75% return on assets), which is undoubtedly great news for the financial stability of the system, great news for bank shareholders, who will obtain a higher dividend, and great news for society as a whole because, when banks make a profit, it increases their capacity to support the country’s economy. The normalization of interest rates has contributed to this extraordinary result for the banking industry, which has also led to efficiency ratios of the Spanish banking sector of 37% to 45%, a sign of the strength of our retail banking sector worldwide. Spanish banks’ ROE is approaching its cost of capital. On average, it’s better than European banks’, though still below the figures for large US banks. However, American regional banks are experiencing levels of credit card default (8.16%) and an associated debt balance decline (9.36%) that has been unheard of in the last 40 years.

As for large European banks, market value and book value are finally converging, which can be explained, among other reasons, by the fact that, when growth opportunities are lacking, the shareholder remuneration policy is a decisive factor in the industry’s valuation. However, non-performing loans on the balance sheets of banks from their banking activity in Spain range from 2.11% to 4.22% with a cost of credit risk that is rising very gently and reached 0.28% to 0.62% in the last quarter of 2023. This has prompted Spanish bank managers to be ready to make decisions to sell portfolios of non-performing assets early, given that there is an active market for NPLs.

Traditional banks, with their intense regulatory and supervisory pressure, which provides high-quality information on the NPLs on their balance sheets, represent only one part of the financial system. There is another part that is growing discreetly in the shadow of this heightened banking regulation, where little is known of the default level of the loans it originates, the debt it acquires from banks and its collection management practices. This lack of symmetry is inappropriate, especially when, the larger the organization working in the shadow banking system, the less information is available on its methods.

In addition, with regard to the decarbonization of the economy, regulation and supervision highlight the importance of assessing the impact of transition risk on banks’ credit and securities portfolios, which is another example of the lack of symmetry with shadow banking.

We will discuss all of this at 19 Banking, along with the economic situation in Ukraine, the social impact of banking, the entry into force of Basel 3.5, the digital euro project, the situation of payment systems, the digitalization of the industry, macroeconomic expectations and other current issues, with the CEOs of Spanish banks and prominent representatives of countries and national and international financial institutions, as well as academics and industry experts.

SUPPORTING COMPANIES

 

PROGRAM

Thursday, May 16, 2024

09:00-09:25 Reception and registration of participants
09:30-09:50 Welcome

• Prof. Germán López-Espinosa, Academic Director, Banking Industry Meeting, IESE Business School
• Lars Faeste, EMEA President, FTI Consulting

09:55-10:30 The use of data: improving the customer experience

• José Antonio Álvarez, Vice Chair and Board Member, Santander Group
• Amparo Moraleda, Board Member at Airbus, APMoller Maersk, CaixaBank and Vodafone

Moderator: Prof. Gaizka Ormazabal, IESE Business School

10:30-11:00 Coffee Break
11:15-11:50 The Banking Sector: Intervention by the Governor of the Bank of Spain

• Pablo Hernández de Cos, Governor of the Bank of Spain and Chairman of the Basel Committee on Banking Supervision (BCBS)

Moderator: Prof. Núria Mas, IESE Business School

12:00-12:35 The financial sector in the current economic environment

• Gloria Ortiz, CEO, Bankinter

Moderator: Manuel Pérez Peral, Senior Advisor, FTI Consulting

12:45-13:20 SME and financial stability

• César González-Bueno, CEO, Sabadell
• Alejandra Kindelán, President, AEB

Moderator: Miguel Ángel Díez, Head of Debt Advisory and Financial Restructuring, FTI Consulting

13:30-14:30 Lunch
14:45-15:25 The capital markets: the energizing effect of IPOs and OPAs. Transparency, investor exposure, and corporate control

• Juan Aguayo, Partner at Cuatrecasas. Corporate. Capital markets
• Lola Solana, President, Instituto Español de Analistas

Moderator: Konstantin Sajonia-Coburgo, Senior Advisor, FTI Consulting

15:30-16:05 Corporate operations in the current environment

• Juan Carlos Escotet, President, Abanca

Moderator: Prof. Núria Mas, IESE Business School

16:10-16:40 The technological advancement and the new competitive environment of banking institutions

• Fernando Restoy, President, Financial Stability Institute, Bank for International Settlements

Moderator: Prof. Mireia Giné, IESE Business School

16:45-17:15 Coffee Break
17:20-17:55 The growth of alternative financing

• Juan Buades, Partner, Cross Ocean Partners
• Jaime Lamo de Espinosa, Principal, Taconic Capital Advisors
• Miguel Reis, Executive Director, JP Morgan Asset Management

Moderator: Sergio Vélez, Leader of FTI South Europe, FTI Consulting

18:00-18:45 Banking, real estate and hotel sectors

• Víctor Martí Gilabert, Founder, GMA, Atom Hoteles Socimi and Victoria Hotels and Resorts
• Jorge Morán, Vicepresident, La Finca and Castellana Properties
• José Sevilla, President, Unicaja, and Advisor, Aareal Bank

Moderator: Eloy Mayorga, Managing Director (Corporate Finance), FTI Consulting

18:50-19:25 Trends that will shape the future of the industry

• José Ignacio Goirigolzarri, President, CaixaBank

Moderator: Prof. Germán López-Espinosa, IESE Business School

19:30 Spanish wine

Friday, May 17, 2024

08:30-09:00 Reception and registration of participants
09:00-09:15 Welcome

• Prof. Germán López-Espinosa, Academic Director Banking Industry Meeting, IESE
• Sergio Vélez, Leader of FTI South Europe, FTI Consulting

09:20-09:55 Opening: Banking System Update

• Luis de Guindos, Vicepresident, European Central Bank

Moderator: Prof. Gaizka Ormazabal, IESE Business School

10:00-10:35 Banking resolution challenges

• Jesús Saurina, Board Member, Single Resolution Board

Moderator: Prof. Germán López-Espinosa, IESE Business School

10:45-11:20 Coffee Break
11:30-12:15 The future of payment system

• Juan Orti Ochoa de Ocáriz, Country Manager, American Express Spain
• Eduardo Prieto, Country Manager, VISA Spain
• Paloma Real, Country Manager, Mastercard Spain
• Francisco Tur, Head of Market Infrastructure Support Division, Directorate General Market Infrastructure & Payments, European Central Bank

Moderator: Riccardo Pacelli, Senior Managing Director (Corporate Finance), FTI Consulting

12:20-12:55 Macroeconomic expectations

• Bruce Kasman, Chief economist and head of global economic research, JPMorgan Chase & Co.

Moderator: Prof. Javier Díaz Giménez, IESE Business School

13:00-13:35 Closing: Resilience and Reconstruction

• Yuriy Butsa, Government Commissioner for Public Debt Management, Ministry of Finance of Ukraine

Moderator: Prof. Mireia Giné, IESE Business School

WHO IS WHO

Prof. Germán López-Espinosa
https://www.iese.edu/faculty-research/faculty/german-lopez-espinosa/

Prof. Germán López-Espinosa

IESE Business School

Academic Director

Industry Meetings
José Antonio Álvarez

José Antonio Álvarez

Vicepresidente y Consejero externo, Grupo Santander

Speaker

Industry Meetings
Juan Aguayo

Juan Aguayo

Partner at Cuatrecasas. Corporate. Capital markets

Speaker

Industry Meetings
Juan Buades

Juan Buades

Partner, Cross Ocean Partners

Speaker

Industry Meetings
Yuriy Butsa

Yuriy Butsa

Government Commissioner for Public Debt Management, Ministry of Finance of Ukraine

Speaker

Industry Meetings
Prof. Javier Díaz Giménez
https://www.iese.edu/faculty-research/faculty/javier-diaz-gimenez/

Prof. Javier Díaz Giménez

IESE Business School

Moderator

Industry Meetings
Miguel Ángel Díez

Miguel Ángel Díez

Head of Debt Advisory and Financial Restructuring, FTI Consulting

Moderator

Industry Meetings
Juan Carlos Escotet

Juan Carlos Escotet

President, Abanca

Speaker

Industry Meetings
Lars Faeste

Lars Faeste

EMEA President, FTI Consulting

Moderator

Industry Meetings
Prof. Mireia Giné
https://www.iese.edu/faculty-research/faculty/mireia-gine/

Prof. Mireia Giné

IESE Business School

Moderator

Industry Meetings
José Ignacio Goirigolzarri

José Ignacio Goirigolzarri

President, CaixaBank

Speaker

Industry Meetings
César González-Bueno

César González-Bueno

CEO, Sabadell

Speaker

Industry Meetings
Luis de Guindos

Luis de Guindos

Vicepresident, European Central Bank

Speaker

Industry Meetings
Pablo Hernández de Cos

Pablo Hernández de Cos

Governor of the Bank of Spain and Chairman of the Basel Committee on Banking Supervision (BCBS)

Speaker

Industry Meetings
Bruce Kasman

Bruce Kasman

Chief economist and head of global economic research, JPMorgan Chase & Co.

Speaker

Industry Meetings
Alejandra Kindelán

Alejandra Kindelán

President, AEB

Speaker

Industry Meetings
Jaime Lamo de Espinosa

Jaime Lamo de Espinosa

Principal, Taconic Capital Advisors

Speaker

Industry Meetings
Víctor Martí Gilabert

Víctor Martí Gilabert

Founder, GMA, Atom Hoteles Socimi and Victoria Hotels and Resorts

Speaker

Industry Meetings
Prof. Núria Mas
https://www.iese.edu/faculty-research/faculty/nuria-mas/

Prof. Núria Mas

IESE Business School

Moderator

Industry Meetings
Eloy Mayorga

Eloy Mayorga

Managing Director (Corporate Finance), FTI Consulting

Moderator

Industry Meetings
Amparo Moraleda

Amparo Moraleda

Consejera de Airbus, APMoller Maersk, CaixaBank y Vodafone

Speaker

Industry Meetings
Jorge Morán

Jorge Morán

Vicepresident, La Finca and Castellana Properties

Speaker

Industry Meetings
Prof. Gaizka Ormazabal
https://www.iese.edu/faculty-research/faculty/gaizka-ormazabal/

Prof. Gaizka Ormazabal

IESE Business School

Moderator

Industry Meetings
Juan Orti Ochoa de Ocáriz

Juan Orti Ochoa de Ocáriz

Country Manager, American Express Spain

Speaker

Industry Meetings
Gloria Ortiz

Gloria Ortiz

CEO, Bankinter

Speaker

Industry Meetings
Riccardo Pacelli

Riccardo Pacelli

Senior Managing Director (Corporate Finance), FTI Consulting

Moderator

Industry Meetings
Manuel Pérez Peral

Manuel Pérez Peral

Senior Advisor, FTI Consulting

Moderator

Industry Meetings
Eduardo Prieto

Eduardo Prieto

Country Manager, VISA Spain

Speaker

Industry Meetings
Paloma Real

Paloma Real

Country Manager, Mastercard Spain

Speaker

Industry Meetings
Miguel Reis

Miguel Reis

Executive Director, JP Morgan Asset Management

Speaker

Industry Meetings
Fernando Restoy

Fernando Restoy

President, Financial Stability Institute, Bank for International Settlements

Speaker

Industry Meetings
Konstantin Sajonia-Coburgo

Konstantin Sajonia-Coburgo

Senior Advisor, FTI Consulting

Moderator

Industry Meetings
Jesús Saurina

Jesús Saurina

Board Member, Single Resolution Board

Speaker

Industry Meetings
José Sevilla

José Sevilla

President, Unicaja, and Advisor, Aareal Bank

Speaker

Industry Meetings
Lola Solana

Lola Solana

Head of European Small Caps Equity Funds de Santander AM, and President, Instituto Español de Analistas

Speaker

Industry Meetings
Francisco Tur

Francisco Tur

Head of Market Infrastructure Support Division, Directorate General Market Infrastructure & Payments, European Central Bank

Speaker

Industry Meetings
Sergio Vélez

Sergio Vélez

Leader of FTI South Europe, FTI Consulting

Moderator

Industry Meetings

Fees

The 19 IESE Banking Meeting will be held on IESE’s new campus in Madrid

The fees for this meeting:

GENERAL FEES

On Campus: € 1,200
Online: € 400

ALUMNI FEES

On Campus: € 1,000
Online: € 400

MEMBER FEES

On Campus: € 840
Online: Free

Register On Campus Register Online

INDUSTRY INSIGHTS

2024 – Surfing the Wave of Uncertainty

2023 – Navigating the Wave of Inflation

2022 – Banking: Driving Bold Transformation

2021 – Retos de la banca en la recuperación económica

2019 – La banca en 2020: cómo crecer en una industria madura

2018 – Finance in the New Society

Download in English

2017 – IESE ON Banking Sector

Descargar versión solo en español

2016 – Rethinking the banking industry: some reflections

Download in English
Descargar en español

PREVIOUS EDITIONS

2023 · Navigating the wave of inflation
2022 · Banking: driving bold transformation
2021 · Banking: helping to boost the economy
2019 · Banking in the 2020s: Managing Growth in a Mature Industry
2018 · Reinvent Banking or Improve Bank Management?
2017 · Competitive Banking in a New Society
2016 · Banking in the future
2015 · Banking in Today’s Competitive Environment
2014 · Bank’s Role in Recovery
2013 · Banking: Beyond the Crisis
2012 · Banking: Opportunities after the Crisis
2011 · Designing the New Banking Sector
2010 · Building the Future
2008 · The Global Opportunity
2006 · Innovation and Strategies for the Growth of the Banking Sector in Europe
2004 · (September) Banking in Europe: Building the Future
2004 · (April) Technology and Geographic Space: Strategic Keys for the Banking System

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