Net attributable profit
€ -492 M
-45.4% vs. 2014
-9.6% vs. Dec14
-1.2% with CX
* According to Bank of Spain's transparency scope (Circular 5/2011)
Negative contribution of the area to earnings continues to decline
Reducing loan-loss and real- estate asset provisions
Improved risk indicators
This area provides specialized management of the Group's real-estate assets, including foreclosed real-estate assets from both residential and developer mortgages, the developer loan business and other related assets. Management of properties for BBVA's own use is excluded from its scope.
Real-estate activity in Spain has a dual mission in BBVA Group's real-estate business:
With this twofold goal, real-estate activity in Spain will contribute to the Group's transformation process, providing value in at least four of the strategic priorities defined at the global level.
Through the reduction in real-estate exposure and management of the recovery of the portfolio's value.
Real-estate intelligence for new business models and first-class human capital: design of policies, processes, procedures and tools for managing balance sheets with underlying real-estate assets.
The goal is to contribute value to the group
Leadership in efficiency: redefinition of the control and governance structure and management model linked to decision-making.
The portfolio to be managed is diverse and varied. This is why different management lines need to be combined, based on the nature of the assets and the alternatives available on the market, to enable effective divestment processes.
The following has been identified in this regard:
a) The following types of assets:
b) The following management lines or levers: