Alpha value | The Santander bank has just created the Landmark Iberia company to transfer all the land assets that it has because of its exposure to the housing market.
The gross book value of Santander’s land assets is around € 4 billion, while the net worth is said to be around € 2 billion, according to the business daily Cinco Dias. The new company will aim to acquire or build all types of houses and buildings to be built or renovated, with the aim of selling them. On the other hand, Santander has successfully completed the technological integration into the Group’s platform of Banco Popular offices in Galicia, Cantabria, Asturias and the Basque Country. Santander stock closed yesterday with an increase of + 0.98%.
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