26 February 2015 – Expansión
From next week, Solvia, the real estate arm of Banco Sabadell, will gradually incorporate assets from Sareb, the so-called bad bank, into its managament portfolio. Specifically, it will take over the management of assets that were originally held by Banco Ceiss.
In November last year, the Asset Managament Company for Bank Restructurings (Sareb) awarded Solvia, the real estate arm and recovery platform of Banco Sabadell, the management of a portfolio of 42,900 assets that had been originally held by Bankia, Banco Gallego and Banco Ceiss.
In total, 7,000 assets were held by Banco Ceiss; they will be added to those from Banco Gallego that Solvia is already managing. Only the management of the assets originally held by Bankia will remain pending; and that is expected to happen within the next few months”, according to Solvia.
Original story: Expansión
Translation: Carmel Drake