Oligopoly. Cartoon of 26 February 2023 in CTXT
In 2022, the big banks once again broke records and earned 20,850 million, 28% more. Only the two big Spanish banks, Santander and BBVA, made a profit of more than 16,000 million.
And yet, from the same media in which they spoke of record figures, only seven days later, they told us again, that nothing, that it is not so bad because the figures hide a low profitability compared to 2007 and that if their share price potatoes and blablabla. This is what “economic” information in the generalist media is like, a constant bad joke.
Francisco Reynés, executive chairman of Naturgy, pocketed almost 6 million euros in 2022 thanks to the company’s huge profits.
Iberdrola, Endesa and Naturgy pulverised their combined profit figures in the midst of a legal battle against the new temporary tax imposed by the government on 1.2% of sales in the sector. The three big electricity companies earned 8,529 million in 2022, 30.5% more than last year(Source).