Popular Will Open 40 Branches To Sell Its Homes

17 January 2017 – Invertia

Banco Popular has launched a new network of 40 branches, four regional teams and a workforce of 400 people to manage its newly carved out real estate business.

According to a statement made by the entity, 12 of these branches will be located in Cataluña and Levante, 10 in Madrid and the Centro region, 10 in the North and the Pastor region and 8 in Andalucía.

The objective of this network, which will report directly into the General Director of Real Estate Business and Asset Transformation is to manage the bank’s real estate business and to manage collections in a holistic way “with the perspective of optimising capital, in line with the bank’s overall objective to reduce non-productive assets”.

The creation of this network forms part of the restructuring process that the bank is currently carrying out and which has involved the separation of its core and real estate businesses.

Original story: Invertia

Translation: Carmel Drake

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