FACT SHEET
H1 2016
WHAT IS SAREB?
The Management Company
for Assets Arising from the
Banking Sector Reorganisation (Sareb) is a private
institution created in
November 2012, to manage
and dispose of the assets
transferred to it by the nine
financial institutions that
received government
funding.
Sareb was created with a
portfolio worth €50,780
million, of which 80%
were developer loans and
20% were all classes of
real estate assets.
institutions that received
government funding.
Sareb issued private debt
in order to acquire the
portfolio. These bonds,
that were handed over to
the rescued financial
institutions, are underwritten by the State.
The majority of Sareb's
share capital is privately
owned (banks, insurance
companies,
a real estate firm and a
utility company).
45.9% is owned by the
State, via the Fund for the
Orderly Restructuring of the
Banking Sector (FROB).
WHAT IS ITS MISSION?
Manage and sell the acquired assets within a maximum timeframe of 15 years, before 2027
WHAT ARE ITS COMMITMENTS?
Sareb remains committed to its undertaking of meeting the payment of the debt issued, so that its activity is
not an additional cost to the taxpayer.
Sareb is committed to performing its duties in a way that is both sustainable and responsible. This implies:
Being in continuous contact
with its 15,700 clients,
primarily SMEs, in order to
provide them with the
appropriate solutions.
Signing agreements with local
authorities to temporarily
assign housing to groups at
risk of exclusion.
MANAGEMENT SNAPSHOT
€8,5
billion portfolio
reduction
33,340
debtor proposals
managed
€7,7
billion repaid
debt
€3,3
billion in interest
paid
€14,3
billion revenue
generated
40,845
properties sold to
individuals
4,
000
homes assigned for
social welfare
purposes
8,000
people have
benefitted from social
housing agreements
FACT SHEET
H1 2016
Portfolio performance (€ million)
50,781
39,438
Financial assets
Real estate assets
-16.17%
48,791
37,742
45,213
42,991
34,124
42,287
31,228
11,343
feb.2013
11,049
11,763
11,089
2013
29,992
2014
2015
12,295
jun. 2016
Senior debt repayment (€ million)
-15.2%
H1 2016
€419
50,781
48,997
Million debt
repaid
45,527
43,476
43,058
Accumulated
€7,7
Billion debt
repaid
feb. 2013
2013
2014
2015
jun.2016
Portfolio breakdown
H1 2016 (% in € million)
Residential
13.1%
Loans
72.2%
Land
9.5%
Commercial
3.2%
Other
2.1%
Financial assets by type of
collateral (% in € million)
Real estate assets
(% in € million)
Industrial
3.5
Works in
progress
9.5
Retail
6.1
Land
14.8
Other
7.4
Serviced
development
land
11.2
Residential
42.7
Unsecure
4.6
Greenbelt
land
6.4
Housing
44.7
Commercial
property
8.1
Mixed
collateral
22.4
Plot of Land
under
development
16.4
Ancillary
2.2
Geographical distribution of portfolio
Financial assets/ Real estate assets. H1 2016 (% in € million)
1.8/1.6
1.5/1.9
0.4/0.4
4.3/3.7
0.3/0.4
1/1.1
16.2/20.5
6.1/6.4
3.7/3.8
9/14.7
4.0/5.5
0.8/1.3
16.9/14.3
2.3/2.6
5.8/6.7
11.8/12.8
2.2/2.3
* 12% of the debt is not assigned to a specific province
FINANCIAL INFORMATION
€1,395
Million
Revenue H1 2016
Amortisations
and cancellations
17%
Loan repayments
and sales
20%
Sales via PDV
growth plans and
collateral sales
22%
Rent,
CSR and
other
2%
Interest
13%
Non-residential
and land sales
10%
Residential
sales and
others
16%
Total revenue
300
259
251
250
271
254
223
1,395
1,400
1,200
1,124
200
150
1,600
1,000
870
146
800
600
656
100
400
397
50
200
146
0
0
ene. 16
Monthly
feb.16
mar.16
abr.16
may.16
Accumulated
€ millions
Servicers
Contact details
Investor Relations
[email protected]
Media Relations
[email protected]
jun.16
Sareb Responde
Telf.: +34 900 115 500
[email protected]
www.sareb.es