The portfolio is named Rex and its net book value is approximately 342 million euro, over which are applied net allowances of approximately 20 million euro.
This operation «will imply the transfer of the real estate assets’ control and, as a consequence, its removal from Banco Sabadell’s balance sheet», mentions the release sent by the bank to the Comisión Nacional del Mercado de Valores (National Securities Market Commission).
And it should thus contribute «in a positive way to improve Banco Sabadell’s yield», according to the same document.
