Spain's BBVA to charge for deposits of more than €100,000 – Europa Press

Banco Bilbao Vizcaya Argentaria SA will be the first Spanish bank to charge a fee for deposits, if they exceed €100,000, Spanish news agency Europa Press reported, citing market sources.

BBVA will charge a monthly commission of 0.025% or an annual one of 0.3% for a limited amount of clients in Spain with high bank balances, the report said.

Negative interest rates in Europe have been putting pressure on banks' profitability for some time.