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Sección de utilidades

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Real estate assets

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BANKIA IS WORKING TO DIVEST REAL ESTATE ASSETS IN ORDER TO CLEAN UP ITS BALANCE SHEET AND ACHIEVE A HIGHER RETURN.

BANKIA’S REAL ESTATE ASSET DIVESTMENT PROGRAMME REQUIRES EXTENSIVE KNOWLEDGE OF THE SECTOR AND PROFESSIONAL MANAGEMENT.

Its main goal is to obtain the highest possible return, clean up the bank’s balance sheet and support the share price, in accordance with the demands of the regulators.

All the assets are managed, administered and marketed through Haya Real Estate (HRE), which is responsible for property maintenance and all sales activities (customer service, dealings with intermediaries, presence at events, publication of offers, etc.).

Meanwhile, the mission of the Property Management Directorate, created in May 2016, is to dispose of the assets with minimum impact on the income statement and as efficiently as possible, as well as to coordinate sales and prepare packages of assets for sale outside the retail channels.

For that purpose the directorate has improved the quality of the information available, giving greater transparency to the existing stock, and collaborates with other areas of the bank to expedite the sale of newly foreclosed properties.

A new application launched during the year, which can be used to improve sales processes and monitor all the administrative procedures in relation to each asset in a simpler, more intuitive way, provides more information to customers and simplifies processes in the branches.

At 31 December 2017, the real estate activity had contributed 504.7 million euros to the bank, with the sale of 9,004 real estate assets, while also allowing the bank to uphold its commitment to society by allocating 2,921 homes for social rent.

One of the main challenges the Property Management Directorate will face in 2018 will be integrating the real estate assets from BMN.

MAP OF SALES BY AUTONOMOUS COMMUNITY

6,642 No. of homes sold, by autonomous community

3 No. of packages of assets sold

3,459.1 Volume of real estate asset divestment programme (million euros)

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