ABC writes: The bailed-out banks should cut dividends, salaries and close offices

European Equities

The strong adjustment to be imposed on banks receiving aid finally starts to take shape gradually. According to financial sources consulted by ABC, financial assistance to entities weak counterpart will be implemented mainly through four ways. First, limitations in the dividend. Second, additional restructuring, ie, closure of offices and personnel adjustment to lighten the income statement. Third, asset sales to lower the level of debt and raise cash and fourth, tight control of compensation policies.

Full article: http://translate.google.co.uk/translate?hl=en&sl=es&u=http://www.abc.es/&ei=0xnXT-2IEoOa8QO_0-yAAw&sa=X&oi=translate&ct=result&resnum=1&sqi=2&ved=0CHMQ7gEwAA&prev=/search%3Fq%3Dabc%2Bspain%26hl%3Den%26client%3Dfirefox-a%26hs%3Dcr4%26rls%3Dorg.mozilla:en-GB:official%26biw%3D1280%26bih%3D894%26prmd%3Dimvnsu

Source: ABC

Tue, 10:29 12-06-2012