Spanish banks offer up to 2% cash incentives to lure investment fund transfers

Spanish banks are intensifying competition for retail investment assets, offering cash rewards up to 2% (capped at €30,000) to clients who transfer investment funds from rival institutions. This marks an escalation in deposit and asset-gathering competition, reflecting margin pressure and a shift toward fee-based income. The move could accelerate fund outflows from smaller banks and reshape the competitive landscape in Spanish retail asset management.

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