Alphavalue / Divacons | Sareb has completed a decade since its creation. With the results known since 2022, the entity has already reduced the debt guaranteed by the State by €20,301 million, 40% of the total, so that at the end of 2022 the outstanding debt was €30,481 million. Since 2021, the State took control of the company through the FROB (Spanish Executive Resolution Authority), and its debt has had an impact on the public deficit. Last year it closed with a net loss of €1,506 million, in a year in which it increased its revenues by 8% year-on-year to €2,361 million.
Sareb, or the Sociedad de Gestión de Activos Procedentes de la Reestructuración Bancaria (Asset Management Company for Assets Arising from Bank Restructuring) was created in November 2012 to absorb the most impaired assets of banks that were going to need public aid for recapitalisation.