January 10, 2020 1:25 pm

Spain’s banks sell off bad loans

NPL sales worth nine billion euros.

Spanish banks have disposed of bad loans worth around eight billion euros at the end of 2019 and the beginning of the new year. This is reported on the news page of Spanish real estate experts Aura, citing an article in the online magazine El Confidencial. The NPL portfolios are said to have consisted primarily of unsecured loans.

The largest share goes to BBVA. The bank from Madrid and Bilbao has disposed of NPL portfolios with a total value of around five billion euros – half of the loans are said to have been unsecured. But other banks were active as well: CaixaBank, for example, sold the Astun portfolio worth 865 million euros, which consists mainly of unsecured private and corporate loans. Aura

This post was written by Jens Secker

(Image rights: istockphoto.com/BrasilNut1)

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