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BANCO POPULAR DOUBLES 2014 SPANISH PROPERTY SALES TO 1.5 BN EURO

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Banco Popular doubles 2014 Spanish property sales

The fourth largest banking group in Spain, Banco Popular, has doubled revenues derived from property sales in 2014.

Chief Financial Officer, Francisco Sancha, announced that revenues had reached around 1.5 billion Euro in 2014 after the group sold management to two foreign private firms.

According to CFO, Francisco Sancha, group revenues derived from property is expected to rise to 2.5 billion Euro in 2015.

Net profit for the group rose 31% in 2014 from the previous year, despite a reduction in the earnings from its lending business. The bank reported profit of 330 million Euro, 22 million euro above analyst expectations.

Filed under: http://www.theleader.info/article/46369/

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