Sabadell, Spain, 15-8-2014 — /EuropaWire/ — As part of its balance sheet transformation strategy, as defined in its strategic plan 2014-2016, the Plan Triple, Banco Sabadell has sold a fully provisioned loan portfolio with a total volume of 554 million euros, to the international investor Aiqon Capital, in an operation called Project Siroco, thus transferring the risk of these portfolios. According to Miguel Montes, General Manager of Banco Sabadell: “This operation is a new example of the bank’s capacity to generate transactions which help to reduce the exposure of non-strategic assets.” The operation took place via a competitive sale process which created a strong investment demand which positions the bank as one of the major players in this type of portfolio. The management of the transaction was entrusted to the structured operations team which belongs to the Institutional Markets Division of the bank’s Asset Management dept.
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