On Thursday, the Company for the Management of Assets proceeding from the Bank Restructuring (Sareb) presented its results for the last financial year. Although the most recent forecasts estimated a reduction in losses – in 2018, it closed the year with losses of €878 million -, in the end, the figure for 2019 was actually higher, at €947 million, exceeding even the initial estimates of €900 million.
The reason for this increase in its losses stems from an expense item amounting to €83 million that Sareb recorded in 2019 “corresponding to deferred tax assets that will not materialise in the future”, according to the entity.
