Arab Today, arab today spains bad bank optimistic despite losses in 2014
Last Updated : GMT 21:53:08
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)

arabstoday
arabstoday

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

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 France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
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