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3 months ago
BRIEF-Popular has abandoned plan to spin off real estate unit - CEO
May 5, 2017 / 10:52 AM / 3 months ago

BRIEF-Popular has abandoned plan to spin off real estate unit - CEO

1 Min Read

May 5 (Reuters) - CEO of Banco Popular:

* Says 'Project Sunrise' to spin off real estate assets is "totally abandoned"

* Under the previous management the bank was planning to spin off around 6 billion euros into a separate unit

* Banco Popular is the most exposed lender to toxic real estates among Spanish lenders

* At end-December, Popular finished with non-performing assets of 36.8 billion euros Source text for Eikon: Further company coverage: (Reporting By Jesús Aguado)

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