Listed companies have offered good liquidity, so they can be placed at any time. The only problem is that their valuations are lower to when the bank bought them and therefore any sale involves accounting losses. Other investments “are very valuable,” explains Ana Lacasa, partner at GBS Finance. “The problem is that because of the current economic crisis they are not at their best moment”.
The most problematic companies to sell “are stakes of between 5% and 20% in small companies in which the bank came in for political, territorial, and even personal reasons of ex-directors of the savings banks,” said Lacasa.