Bankia Sold 4,135 Properties In H1 2015 For €262M

17 July 2015 – Expansión

Bankia sold 4,135 properties during the first six months of 2015, i.e. more than double the number it sold during the same period in 2014 (1,919). Half of the sales were made directly through branches and the other half were closed through intermediaries. These properties form part of Bankia’s stock and have nothing to do with the assets that the bank transferred to Sareb after receiving public aid.

The sales generated revenues of €262 million, up 82% on the year before. 92% of the sales relate to residential properties. The remaining 8% include the sale of retail premises, whose sales volumes increased 6-fold compared with the previous year.

At the end of the first quarter, Bankia had foreclosed properties on its balance sheet amounting to €4,213 million – this amount had barely changed since the end of 2014.

Original story: Expansión (by M. Romani)

Translation: Carmel Drake