BME Report on the share ownership structure in Spain
- The participation of non-residents in the stock market hits a record high, at 43.1% of the total
- Spanish households remain the second main owner group
- Spanish Banks and Savings Banks hit an all-time low as owners of listed shares, at 3% of the total
- Non-financial Institutions exceed 20%, a record high they had not reached for the last three years
Non-resident investors strengthen their lead in the ownership of shares in Spanish listed companies and account for 43.1% of their total value at the end of 2016. Their share increases by seven tenths and is the highest figure in the historical series, almost 13 points higher than that of 1992. Proof of the trust placed in Spanish listed companies by non-residents is that their share has increased 6.3 points nine years after the start of the crisis (2007), according to the Report produced by BME on the structure of share ownership, published today.
The Financial Survey of Spanish Households, coordinated by the Bank of Spain, provides access to data on the main aspects surrounding their participation in listed shares. According to the latest survey of end-2014, 11.4% of Spanish households were owners of listed shares. This represents 2.1 million families if we consider it in relation to the total number of households in Spain while 5.25 million people have exposure to equities, taking into account the average number of people per household, according to data analysis and calculations carried out by BME.
In 2016 Spanish families reduced their participation in the stock market by 1%, to 23.4%, following three consecutive years of increases. Nonetheless, they remain the second main owner group after non-residents. The increase and revaluation of the portfolio of listed shares owned by households during the crisis has helped to boost the value of their financial assets, which at the end of 2016 stood at 2.1 trillion euros, 1.4% more than a year earlier and 20% more than in 2008.
At the end of 2016 Spanish Banks and Savings Banks have again plunged to record lows in their participation in the stock market, at 3% of the total. This represents six tenths less than in 2015 and comes as a result of the divesting trend in shares followed by this group and aimed at strengthening bank capital to comply with new regulatory demands. The current share of 3% is almost 13 points lower than in 1992 and 6.3 points lower than in 2007.
The weight of Public Administrations as owner of shares listed on the Spanish stock market increases to 3.1% in 2016, the highest percentage for the last 19 years. This comes mainly as a result of the partial privatisation and IPO of the Spanish airport operator AENA, which took place in the first half of 2015 and its subsequent revaluation in the stock market throughout 2016.
The complete report (in Spanish only) is available through this link: