Wednesday, October 28, 2020
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Spanish Banks Prepare for a Wave of Doubtful Debt Sales

The large Spanish financial institutions are working on the sale of toxic asset portfolios as a priority over the next two years.

The Covid-19 crisis will increase the default rates of financial institutions. That is the reality with which Spanish banks are already working as they prepare for the sale of those loans, be they defaulted or doubtful payments (NPLs and REOs) in the last quarter of 2020, as well as over the next two years.

In terms of this wave of operations, it is likely that the big banks will initiate the process, whilst the weaker financial institutions delay the sale of their portfolios beyond 2021 because they have less capital and because they’ll want to avoid recording losses, says Expansión.

Read the full article in Spanish.

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