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Sareb Recorded Revenues of €2.2 Billion in 2021 and Resumed its Debt Cancelation Program

In total, they cancelled 1.25 billion euros whereby reducing the outstanding debt to 33.66 billion euros.

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The Company for the Management of the Assets Proceeding from Bank Restructuring (Sareb) closed 2021 with revenues of 2.2 billion euros, up by 54% compared to 2020 and close to the amount recorded in 2019.

The entity used the cash generated to cancel some of its debt guaranteed by the State, specifically more than 1.25 billion euros worth. As such, the entity’s outstanding debt balance stands at 33.66 billion euros.

Read the full article in Spanish.

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