Spain's Liberbank SA reiterated its financial targets June 8 after its shares fell by more than 18% due to concerns that the bank could suffer the same fate as Banco Popular Español SA, which was acquired by Banco Santander SA for a symbolic €1.

In a statement to Spain's market watchdog, the lender said it was still on track to lower its bad-loan ratio to 7% in 2018 from 13% at the end of March and 19.5% at end-March 2016.

It also estimated its gross debt outflows attributed to rent and sales at €410 million in 2017, €625 million in 2018 and €850 million in 2019. The bank's risky debt fell 7.9%, or €254 million, in the first quarter and by 38.3%, or €1.83 billion, compared to end-March 2016.