We received some 200,000 assets valued at €50,781 million, of which 80% were developer loans and 20% real estate assets.

Our company was founded in November 2012 to help clean up the Spanish financial sector and, in particular, the banks that became financially distressed as a result of their excessive exposure to the real estate sector.

The Memorandum of Understanding (MoU) signed by the Spanish Government in July 2012 with its European partners established the creation of Sareb as one of the conditions for receiving financial aid. The agreement stipulated that a company had to be created to manage the real estate assets transferred from the distressed banks, in order to reduce their risk levels and carry out an orderly divestment of the distressed assets.

We received some 200,000 assets valued at €50,781 million, of which 80% were developer loans and 20% real estate assets. The majority of our share capital is privately owned (55%), while 45% is in the hands of the FROB - Fondo de Reestructuración Ordenada Bancaria (Fund for Orderly Bank Restructuring).