Spain stands out as one of Europe’s most successful story in selling non-performing assets, as its financial sector have already sold about €120 billion from the €200 billion of toxic assets held in its books in 2013.
The figures were released during the Annual Conference of Spain’s Capital Markets, recently held on Madrid and organized by the European Association of Financial Markets together with the Spanish Banking Association. However, and even though most of the participants agreed the country’s stands out as one success story in selling NPL, they also stressed that there are still €80 billion in NPL to clean up.
That’s why during his intervention, the Governador of Spain’s Central Bank (BdE), Pablo Hernandez de Cos, referred to this issue by asking the banks to intensify their efforts to keep reducing its toxic assets.
Original Story: El Español | María Vega
Photo: Photo by Victor Iglesias from FreeImages
Edition and Translation: Prime Yield