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In early December, I noted that Spanish banking giant Banco Santander
However, my feeling was that Santander's presence abroad (particularly in Brazil), its dramatic diversification, and its increasing domestic market share were enough to keep this bank more than just afloat. In addition, most of the heat that Spanish banks were feeling was targeted toward the cajas, or savings banks, which don't include a giant like Santander. Lastly, Santander has proven adept at managing credit risk, learning numerous lessons in its 150-plus years of experience.
Has anything changed?
When I wrote my last article, Santander was trading at $10.97 per share; it slowly faded throughout December, along with other euro-area banks such as National Bank of Greece
Not so fast, though. If you've read recent headlines, you know Spanish banks such as Santander and BBVA
Today, shares had slipped more than 2% as of midday trading. I wouldn't be shocked if they continued to fall; you can be sure I'll be watching carefully.
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Jordan DiPietro owns shares of National Bank of Greece, as does the Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.