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Sareb’s revenues drop 33%
07 November 2019 | Vanessa Sousa

Sareb’s financial results concerning this year’s first semester show that despite having had 1.052 million euro in revenues, it was still 33% less yoy.

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This result can be explained, in part, by the 7% decrease of the company’s portfolio. In mid-June, the Sociedad de Gestión de Activos procedentes de la Reestructuración Bancaria (Sareb) had a portfolio estimated at 33.636 million euro.

The process of turning credits into real estate assets – which accelerated during the last few months – might be another factor that explains this result, reported daily newspaper Eje Prime this Wednesday, quoting sources from the bank.

This last process seems to be paying off, since the number of real estate assets Sareb has in its portfolio increased 4% yoy, having reached 9.000. On the other hand, the number of assets sold during this year’s first months (9.063 buildings) was the lowest of the last few years.