Santander reaps capital benefit with close of toxic asset sale
The bank aims to have CET1 above 11% by end-2018
Santander’s sale of toxic loans, acquired when it bought failed lender Banco Popular in 2017, helped free up core capital and remove dead weight from its balance sheet in the first quarter.
The Spanish giant completed the spin-off of half of Banco Popular’s real estate portfolio to private equity group Blackstone earlier this year. The sold assets included foreclosed homes and non-performing
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