CAM Clients Pulled 22% of Deposits in September, Economista Says

Caja de Ahorros del Mediterraneo (CAM) clients withdraw 22 percent of their deposits in September after the company was criticized by Bank of Spain governor Miguel Angel Fernandez Ordonez, El Economista reported today.

Clients took 11.8 billion euros ($15.3 billion) out of CAM accounts after Ordonez called it “the worst of the worst,” the newspaper said, citing a regulatory filing.

To contact the reporter on this story: Ben Sills in Madrid at bsills@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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