We said that on the 30th November and it is confirmed. The President of the Society for the Management of Assets of the Bank Restructuring (SAREB), better known as the “bad bank”, that was recently created to absorb the “toxic” assets from Spanish Banks, Belen Romana, trusts that the housing market will not be destroyed with the sale of its assets. In her first press conference since the creation of the society, Romana has stated as a fact that she will not drop the prices and that she will always try to obtain the maximum profit for each asset.
‘There will be divestment in wholesale markets, retail sales will be residual’
In this sense, she has informed us that the ‘bad bank’ will not focus on the sale of its assets in the retail market, which will be only in a “residual” way, but will let them go in packets when the market allows the maximization of their value.
“SAREB is going to utilize all the divestment pathways that are available on the market around the clock. We will have divestment in wholesale markets; retail sales will be residual in our case. We will utilize all the market actors so that they help us in these 15 years of life,” she has affirmed.
The Bad Bank does not really matter to small investors