Spain's bad bank finds NPLs a bad business

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By Tom Brown
24 Apr 2019

Spanish bad bank Sareb is reducing NPL portfolio sales in 2019 after increased competition made large sales unprofitable, and is instead focusing on converting NPLs into real estate assets via foreclosure. Tom Brown reports.

“We are reducing our activity in portfolio NPL sales. Instead we are extending our activities into real estate assets,” said Susana Díaz, communications manager at Sociedad de Gestión de Activos procedentes de la Reestructuración Bancaria. “We will concentrate in preserving the value of our portfolio, accelerating the rate ...

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