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Spain bad bank profit pledge seen hindered by housing

Posted on 10 December 2012

Spain’s pledge to generate profit from its bad bank will be undermined by two more years of property-price declines and the cost of maintaining the repossessed homes it will own, according to real estate and finance professor Jose Luis Suarez.
The bank, known as Sareb, was created to purge toxic assets from the books of troubled Spanish lenders. Most of it will be linked to residential property and development land in Spain that will continue a price decline that started when the country’s housing bubble burst in 2007, said Suarez of the IESE business school in Madrid………………………………………..Full Article: Source

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