10/03/2017

Sareb shares its experience with the State Bank of Vietnam

Sareb shares its experience with the State Bank of Vietnam

Representatives from the State Bank of Vietnam - a country that has extended tremendous effort to deal with the issue of bad debts in the economy and to restructure its banking sector - visited Sareb’s offices to learn about the company’s business model and see first-hand how it operates.

After explaining how Sareb was originally founded as part of the Spanish financial system restructuring, representatives from the company covered topics such as Sareb’s equity structure, the type of properties it manages, its new alternative means of divesting assets (such as its online loan sales platform and the launch of its Socimi, Témpore Properties) and the value uplift achieved for its properties via land development and the completion of previously unfinished developments.

The meeting also allowed Sareb to outline its achievements during its first four years, a period during which it has reduced its portfolio by 21% and cancelled 19.4% of its State-guaranteed debt.