Sabadell has amassed 400 million mortgages in Russia and Ukraine

Banco Sabadell is accumulating a portfolio Nearly 400 million housing loans euro with customers Russians, Belarusians and UkrainiansHere, businesses need to reflect on the main risks they see on the horizon for their business, according to the organization’s universal registration document submitted to the National Securities Market Commission (CNMV) this week.

In this sense, the bank, headed by Josep Oliu, is an important part of the armed conflict. “limited impact” on Spanish economybecause exports of goods to Russia make up only 0.7% of the total.

In this way, he points out that the main “transmission channel” of the risk that the war will bring to the economy will be through “Israel”. rising energy prices and conflict and raw materials from international sanctions against Russia”. A rise in prices that affects consumption and investment, “assuming a substantial increase in costs putting pressure on household income and operating margins.”

He also points out that this increase in inflation may cause “central banks to become compulsory”. tightening monetary policy too much”.

Regarding the institution’s exposure to risk, Sabadell points out that the 400 million euros it has accumulated in mortgage loans to Russian, Belarusian and Ukrainian clients barely represent. 0.25% of your portfolio total credit score, therefore a “limited risk”.

In this context, the bank points out that the assets guaranteeing these mortgages are in Spain and therefore their value is not at risk from the conflict. In addition “from credit to value”that is, the percentage assumed by the debt on the value of these properties is found on the average. 44%which is positive because the lower this indicator, the less risk of nonpayment, and also it means that if the house reaches the point of foreclosure, the business is more likely to get back all the money borrowed.

Likewise, most of these operations are over the age of six.

In any case, according to data compiled by Europa Press, Sabadell will be the organization that accumulates the most credits from the citizens of these nations. Thus, in case CaixaBank loan portfolio of Russians and Ukrainians 185 million; this Santander, to 80 million; this BBVAto 58 million; and Bankto 25 million.

Source: Informacion


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