EU banks are on track to shed as much as €100bn in unwanted loan portfolios this year as they reshape their businesses in the face of regulatory pressure.
Some €83bn of asset sales have been completed or are in the process halfway through the year, compared with €64bn for all of 2013, according to figures gathered by PwC.
Richard Thompson, a partner at the accountancy firm, said the total for this year could hit a record €100bn, as a “wall of money” is deployed by fund managers to purchase bank castoffs. That total would be more than double the disposals just two years ago.
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