The current low interest rates are enabling banks to hang onto assets for longer, but change is in the air, Van Stults, managing director of Orion Capital Managers in London, told PropertyEU. ´The attitude is changing somewhat and we feel that banks actually will sell more, particulary in 2011 and 2012,’ he said.
The current low interest rates are enabling banks to hang onto assets for longer, but change is in the air, Van Stults, managing director of Orion Capital Managers in London, told PropertyEU. ´The attitude is changing somewhat and we feel that banks actually will sell more, particulary in 2011 and 2012,’ he said.
Nevertheless, a wave´of sales is unlikely to materialise, Stults warned. `The banks will still hold onto most things but the volume will increase. We´re talking to banks now about loan portfolios of more than EUR 1 bn.’
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There is also a change brewing with regard to where banks do business, according to Stults: `Banks will retreat to their core countries - they might be coming out of southern Europe, so it could be Italy or Spain. Even the Nordics - you might see more retreat from these markets,´ he said.
