Tag: Project Explorer

Sabadell Evaluates the Sale of a Portfolio containing 1,000 Doubtful Loans

The Catalan bank is looking to sell a portfolio of problematic assets despite the market downturn and is evaluating the divestment of 1,000 delinquent SME loans.

Banco Sabadell wants to lead the exit from lockdown in the market for toxic asset portfolios. The entity chaired by Josep Oliu has started to sound out international investors regarding the sale of a package of delinquent SME loans worth €300 million, as part of Project Explorer, according to El Confidencial.

This is the first operation of its kind to be considered in Spain and one of the first in Europe since the outbreak of the Covid-19 crisis. Sabadell believes that there is interest in the market for this type of asset, although it will hold off if that turns out not to be the case.