325
325
  • Transaction / Assets
    €950-Million Portfolio of Toxic Real Estate Assets
  • Seller
    Unicaja Banco
  • Buyer
    na
  • € MM

Unicaja Banco Finalises Sale of €950-Million Portfolio of Toxic Real Estate Assets

28 July 2019 – Richard D. K. Turner

Unicaja Banco finalised the sale of a 950-million-euro portfolio of foreclosed properties and non-performing loans, equivalent to almost a third of those assets on its balance sheet. As of March of this year, the bank had €3.473 billion in unproductive assets, of which €1.833 billion were foreclosed properties.

The portfolio sold yesterday consists of 5,400 mortgage loans, with a gross value of €389 million, along with a total of 4,100 properties, with a gross value of €560 million. The sale, which the bank will formalise by the end of the year, will mean an €830-million decrease in non-productive assets, along with with a pre-tax capital gain approximately 17 million euros.

Original Story: Diário Sur – José Vicente Astorga