By February, Banco Popular Shoots Up by 165% & Gains €131 Million For Property

2/04/2014 – El Economista

CEO of Banco Popular, Francisco Gómez, confirmed that the bank earned €131 million from real estate stock sales in only two months of this year. During his speech at the 21st Financial Sector Meeting organized by Deloitte and ABC, Gómez told that the amount is by 165% greater than €46 million gained in the same period a year before.

What is more, in January and February, the bank´s deliquency rate improved sigificantly for the first time since the recession had begun. ´March also shows promise´, he adds.

Gómez seems convinced that the maximum unpayment rate reached its cap. It climbed from 8,98% in 2012 to 14.27% in 2013. (…).

´The crisis withdraws and Spanish economy revives, however banks´margins are still uncertain´, he complains. (…). ´Popular is ready to face any regulatory obligation´.



Original article: El Economista

Translation: AURA REE