The Alicante-based international bank has closed the sale of €9.1 billion worth of assets to Cerberus and prepares the sale of an additional €2.4 billion in non performing loans to Deutsche Bank.
In early July, the Norwegian Axactor group acquired the €900M Galerna Portfolio which Sabadell had inherited as part of their acquisition of Caja de Ahorros del Mediterráneo.
Following these divestments, Sabadell will only have €1 billion worth of foreclosed property in its balance.