Mortgages For Individuals Make 69% of Catalunya Banc´s Loan Portfolio

According to the 2013 loan granting results of Catalunya Banc provided to the National Stock Exchange Commission or the CNMV, the total value of credits lent by the entity amassed €29.395 million, out of which €20.212 million corresponded to individual clients´mortgages (precisely, 69% of the total).

For that reason, at present the portfolio generates almost null profitability. On the other hand, the loans that could be valuable indeed, namely those granted to SMEs and big companies, turn out to be of only €4.945 million worth (16.8% of the total). At the end of 2013, the bank´s deliquency was reaching 13%, with doubtful credit portfolio of €7.5 billion.

In 2013, Catalunya Banc shutdown 154 offices, 35 in Catalonia and another 119 scattered in the whole of territory of Spain. Right now its network accounts for 1.009 branches. This year, 294 offices more are to be closed, 106 in Catalonia and 188 in other regions. Altogether, 2.153 employees of the bank will be dismissed.

Original article: Expansión (by M.M. & S.S.)
Translation: AURA REE

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