Corporate Banking in Spain
RAROC profiles and pricing benchmarks for 3 Spain banks, sourced from Pillar 3 disclosures.
Last updated: March 2026 · Data source: public Pillar 3 disclosures
Banks tracked
3
Headquartered in Spain
Total corporate EAD
EUR 413bn
Combined exposure
Avg cost-to-income
39.6%
Operating efficiency
Avg corporate PD
2.59%
Probability of default
Overview
OpenRAROC tracks 3 banks headquartered in Spain with a combined corporate credit exposure of EUR 413bn. The average Spain bank in our dataset has a cost-to-income ratio of 39.6% and an average corporate probability of default of 2.59%. On a representative BBB+ EUR 25M 5-year term loan, these banks generate an average RAROC of 6.66%.
Cheapest vs most expensive in Spain
On the standard sample deal, CaixaBank is the cheapest lender in Spain, requiring just 263bp to hit a 12% RAROC hurdle. The most expensive is BBVA at 294bp — a difference of 31bp on the same deal. For a EUR 25M facility, that's EUR 76,277 per year in interest expense.
All 3 banks ranked by RAROC
RAROC computed on a representative BBB+ rated, 5-year, EUR 25M term loan at 150bp spread. Click any bank for its full profile.
| # | Bank | C/I | Avg PD |
LGD | EAD | RAROC | Min spread |
| 1 | CaixaBank | 39.4% | 3.10% | 38.4% | EUR 104bn | 7.01% | 263bp |
| 2 | Santander | 41.2% | 2.91% | 38.9% | EUR 152bn | 6.76% | 269bp |
| 3 | BBVA | 38.2% | 1.76% | 38.3% | EUR 157bn | 6.20% | 294bp |
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FAQ: corporate banking in Spain
How many banks in Spain does OpenRAROC cover?
OpenRAROC tracks 3 banks headquartered in Spain, with a combined corporate credit exposure of EUR 413bn reported in their most recent Pillar 3 CR6 disclosures.
Which Spain bank has the tightest corporate credit pricing?
On a representative BBB+ EUR 25M 5-year term loan, CaixaBank requires the lowest minimum spread to clear a 12% RAROC hurdle (263bp), making it the cheapest lender in the Spain cohort on that specific deal.
What is the average cost-to-income ratio of Spain banks?
The 3 Spain banks in the dataset report an average cost-to-income ratio of 39.6% and an EAD-weighted average corporate probability of default of 2.59%.
How is RAROC calculated for Spain banks?
Each bank is priced on the same BBB+ EUR 25M 5-year term loan, using its own disclosed cost-to-income, effective tax rate, funding spread, and IRB-approach PD/LGD parameters. See the methodology page for the full formula.