trending Market Intelligence /marketintelligence/en/news-insights/trending/_qlhfqqu5ld77rorwne39a2 content esgSubNav
In This List

Banco de Sabadell sells €875M bad-debt portfolio to Axactor

Blog

Banking Essentials Newsletter: 7th February Edition

Case Study

A Bank Outsources Data Gathering to Meet Basel III Regulations

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Blog

Infographic: The Big Picture 2024 – Energy Transition Outlook


Banco de Sabadell sells €875M bad-debt portfolio to Axactor

Banco de Sabadell SA has agreed to sell a bad loan portfolio valued at €875 million to Scandinavian debt management company Axactor AB (publ).

Axactor said the sale is subject to regulatory clearance. The company has acquired several portfolios on the Spanish market, including a portfolio of nonperforming auto loans valued at €133 million from Santander Consumer Finance SA in February.

According to Spanish newspaper Expansión, the debt portfolio is one of four that Sabadell is trying to sell to reduce its nonperforming loans. Spanish banks across the board are still trying to off-load toxic real estate assets after Spain's property bubble burst 10 years ago. It said the bank wants to sell off a total of €10.80 billion of loans.

The paper said the Axactor deal involves a portfolio of mortgage loans from failed savings bank CAM, which Sabadell acquired in 2011.