Banco Sabadell to sell €11.5Bn of property

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.

 

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