2024-01-24 18:54:55
Santander Bank and BNP Paribas have carried out a capital increase of 88 million euros in Unión de Créditos Inmobiliarios (UCI), with the intention of strengthening the solvency of this mortgage joint venture between both entities.
Thus, the solvency of Unión de Créditos Inmobiliarios in Spain and Portugal is increased, and the new regulations of financial credit establishments (EFC) are complied with, which require them to have solvency levels equivalent to those of credit institutions. .
In the opinion of UCI, this investment by Santander Bank and BNP Paribas demonstrates the “confidence” of its shareholders in its business model and in its strategy for 2024, which revolves around real estate financing solutions for individuals and communities of owners.
Real Estate Credit Union It has a market share close to 2% in the volume of mortgages granted in Spain and Portugal.
The ‘joint venture’ of Santander Bank and BNP Paribas also wanted to highlight its position as a “relevant” actor in sustainable financing for the decarbonization of the building stock in Spain and Portugal. Specifically, during the past year, the entity’s total sustainable financing accounted for 19% of its production, increasing by nearly 50% in its energy rehabilitation line.
In the words of Philippe Laporte, Deputy CEO of UCI, “Our goal is to continue strengthening our ESG strategy and experience significant growth in 2024, boosting our financing solutions focused on meeting the demand of the residential real estate sector.”
Last July, Pedro Megre was appointed CEO of the group in a “strategic move” by UCI shareholders, with the aim of positioning the entity as a relevant firm in sustainable financing.
At that time, Philippe Laporte was also appointed deputy CEO, with the aim of improving UCI’s positioning in international financial markets, thanks to his experience in the sector and in the European residential mortgage-backed securities (RMBS) market.
#Banco #Santander #BNP #Paribas #carry #capital #increase #million #euros #UCI