July 13, 2009

Banco Santander SA has sold half of its real-estate assets, which it obtained in exchange for debt, according to a new report in La Gaceta.

My Spanish is not very good, but it appears that in the first five months of the year the bank sold 500 homes of the 1,000 in its portfolio, and is currently offering buyers financing up to 100 per cent, with discounts of 20 to 30 per cent.

Read Spanish? Please let me know if I got this article wrong!

Please read Luzmelia Torres’s full article “El Santander vende la mitad de su ‘stock’ de pisos adjudicados” in La Gaceta (July 12, 2009).

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