European banks seen selling 70b euros of property debt
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London
EUROPEAN banks and asset managers will sell as much as 70 billion euros (S$101.4 billion) of real estate debt and foreclosed assets this year as they continue to strengthen their balance sheets.
More than 12 billion euros of property loans were sold in the first quarter, about 50 per cent less then the previous period, New York-based broker Cushman & Wakefield Inc said in a report on Monday.
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