Spain's BBVA reverses its growing presence in Asia, laying off 29 employees - or 1/3 of its...

|By:, SA News Editor

Spain's BBVA reverses its growing presence in Asia, laying off 29 employees - or 1/3 of its staff - in Singapore, Hong Kong, and Japan in the last month according to a source. Like other EU lenders, the bank is under pressure to lift capital ratios and cutting assets is easier than raising equity at the moment.