Toxic, unproductive or problematical, or however you want to call those assets which were the ruin of the Spanish banks, are not easy to get rid of. Assets linked to the property bubble reached over 300 billion euros at the worst point of the crisis, between 2011 and 2012. But thanks to the lenders’ huge efforts, the last official figure from the Bank of Spain stands at 190 billion euros.
BBVA sale to Cerberus
BBVA has confirmed the sale of its portfolio of property assets, held by its subsidiary Anida and valued at 13 billion euros, to Cerberus. Some 78,000 properties are included in the sale agreement.