Banco Santander, owners of UK’s Abbey, are showing up its rivals in Britain by keeping its business afloat by selling a portion of its Brazilian division in order to stay afloat in the current market conditions.

The sale of the Brazilian chapter raised £5 billion in revenues, while the Royal Bank of Scotland is possibly regretting its decision not to go the same way, given the fact that Brazil is in the middle of a boom, and the recent recipient of the honour of hosting the 2016 Olympics.

For the moment, Spanish banks have emerged from the economic crisis in a much better position than others in Europe and the United States.