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BBVA’s Real Estate Subsidiaries Recorded Joint Losses of €196M in 2019

20 February 2020 – Merca2

BBVA’s real estate companies recorded losses amounting to €196 million last year. The largest losses for the bank were registered by Anida, according to Merca2.

Anida Grupo Inmobilario, which comprises various companies, closed 2019 with losses of €73 million. Meanwhile, Anida Operaciones Singulares recorded losses of €57 million. The bank created Anida to manage the millions of assets that it inherited from previous mergers and “daciones en pago”. Almost all of its holdings, construction projects and other divisions linked to the real estate sector – including Distrito Castellana Norte (DCN), Unnim and Divarian, the company that it manages together with Cerebrus – generated losses for BBVA last year.

Original Story: Merca2

Translation/Summary: Carmel Drake