Half of Spain’s Biggest Bank Groups Need Up to $76 Billion, Bank of Spain Report Says

MADRID—Independent stress test results released Sept. 28 suggest that half of Spain’s top banking groups may require up to $76 billion in recapitalization, according to a report that goes below the government’s earlier estimates.

According to Asset Quality Review and Bottom-Up Stress Test Exercise, an independent report by the consulting firm Oliver Wyman commissioned by the Bank of Spain, seven of Spain’s top 14 banking groups showed up to $76.2 billion in capital needs.

“It’s important to underscore that the capital necessities identified in the exercise do not represent the final amount of public aid to the banking sector,” ...