Post by account_disabled on Feb 27, 2024 5:02:17 GMT -5
Belén Romana was not willing to have to assume red numbers at Sareb for the second consecutive year. The approval of the accounts is pending the Bank of Spain circular that will establish the accounting framework. The requirement for new provisions could drag the entity to losses that would approach 700 million. The president of the bad bank, Belén Romana, presented this Monday to the Sareb board of directors her voluntary resignation as president of the entity. A circumstance that, as confirmed by El Confidencial Digital in financial sources, has caused a huge surprise in the sector , even to some of the entity's shareholder banks. Romana's entourage at Sareb categorically denies that her departure is due to pressure of any kind, but simply to "personal reasons . " Nor is its abandonment related to the application of another impairment to its accounts due to the impact of new provisions. They assure that it was a scenario that the former president already had in mind.
Weeks away from setting the new accounting standard However, banking sources, consulted by ECD, do not overlook that his departure occurs, specifically, a few weeks before the Bank of Spain circular , which must establish the accounting framework that allows the accounts for 2014 to be approved. At the moment, the Bank of Spain circular that establishes these rules is in the Council of State awaiting its opinion . In , the company already had to present losses Netherlands WhatsApp Number because the supervisor imposed a provision that was not initially contemplated, precisely due to the absence of that circular. That the company incurs losses again In areas of they fear that a new requirement for provisions in the coming weeks will put the company's results on the ropes this year as well. In the case of it is estimated that the supervisor will apply specific adjustments to the most problematic portfolios, complicating the achievement of the benefits of its business plan, and dragging the entity into losses for the second consecutive year . Red numbers that some analysts place at million. In fact, other sources maintain, along these lines, that Romana was not willing to assume losses again, and that her management was completely overshadowed , after almost 9,000 million euros in income have been generated during her two years in office.
with nearly 24,000 properties sold , and has repaid 11% of the debt with which the company was created. This has allowed, her team highlights, a saving for taxpayers of 7.4 billion . Red numbers of 250 million in its first year The asset management company from the banking restructuring already had to send, as indicated above, a query to the supervisor to close the accounts for , a year in which extraordinary provisions of 259 million euros were imposed to cover the deterioration of its participating loans leaving the annual result in losses of million euros. The Bank of Spain issued a first draft of the circular that will establish Sareb's accounting methodology last May. The text obliged the company chaired by Belén Romana to reassess its entire load , some 50,000 million euros in assets, completing 30% of the analysis in , reaching 60% this year, and completing the valuation during . By putting its portfolio at market price, Sareb should cover the losses detected with the unlikely capital gains produced, or adjust the deterioration with a charge to the profit and loss account of the period in which it is evident.