Arab Today, arab today spains bad bank optimistic despite losses in 2014
Last Updated : GMT 00:00:56
Arab Today, arab today
Arab Today, arab today

Spain's 'bad bank' optimistic despite losses in 2014

Arab Today, arab today

Arab Today, arab today Spain's 'bad bank' optimistic despite losses in 2014

Spain's 'Bad Bank'
Madrid - XINHUA

The Society for the Management for the Assets Proceeding from the Bank Restructuring (SAREB) registered losses of 585 million euros (628.26 million U.S. dollars) in 2014, it was confirmed on Tuesday.
Sareb, the so-called "bad bank," was created to take on the toxic assets which resulted from the restructuring of the banking sector in Spain following the collapse of the housing market during the economic crisis in 2008.
Sareb's president Jaime Echegoyen said the bank's losses in 2014 were two times that of 2013, when the bank lost 260.53 million euros.
Echegoyen said the reason behind the 2014 losses was a consolidation which the bank had carried out after consulting the Bank of Spain.
Sareb was "quite close to earning money," he said, producing figures which show that the slow recovery of the housing market have been a factor behind the bank being able to sell around 24,000 items of real estate during the past two years.
This allowed it to earn around 9 billion euros, cancel 5.7 billion euros of debt and pay 2.4 billion euros in interest.
Meanwhile, 2014 saw the "bad bank" receive an income of 5.1 billion euros, 23 percent up on 2013, with 3.12 billion euros coming from loan management.( 1 euro = 1.07 U.S. dollars)

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today spains bad bank optimistic despite losses in 2014 Arab Today, arab today spains bad bank optimistic despite losses in 2014

 



Arab Today, arab today
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday