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After the merger, Bankia was initially owned by the holding company Banco Financiero y de Ahorros , and the seven banks controlled BFA. In 2011, Bankia offered shares to the public in an IPO. Investment bankers found little interest in the IPO among international institutional investors. The strategy shifted to selling the stock domestically, and largely to customers of the bank itself, with 98% of the initial €3.1 billion raised by domestic sales of shares. The shares of Bankia began trading on the Bolsa de Madrid on 20 July 2011, under the symbol BKIA, and the bank was listed in the IBEX 35. On 27 June 2017, Bankia agreed to acquire state-owned bank BMN for €825 million in an all-stock deal.
On 4 September 2020, it was confirmed that CaixaBank and Bankia are negotiating for a potential merger. The merger would create the biggest domestic bank in Spain with assets of €650 billion. In addition umarkets scam to the financial problems, the new management had to deal with controversies related to former managements. A number of limitations were imposed as a result of having received state aid.
Detalle Precio Hoy Bankia
In response to growing concerns, Standard & Poor’s downgraded its rating of Bankia’s creditworthiness to BB+, making it a junk bond. On 7 July 2015, Bankia paid the first dividend in its history €0,0176 per share. On 16 October, Bankia completed the sale of City National Bank of Florida for $883 million to Chilean bank BCI.
Shareholders had to share part of the burden of the capital injection, the balance sheet had to be reduced, dividends were restricted until 2014, and both the branch network (-39%) and workforce (-28%) had to be reduced. On this Wikipedia the language links are at the top of the page across from the article title.
Datos económicos y financieros de Bankia hasta antes de su fusión
He gathered more than 600,000 signatures in 2 months, asking banks and other institutions to serve all citizens, and not discriminate the oldest and most vulnerable members. In Spain, the number of bank branches had shrunk to about 20,000 in 10 years since the bailout of 2012, and with the Coronavirus pandemic another 3000 branches closed in less than 2 years pushing online banking. On 25 May, it was reported that Bankia SA had negotiated a further state guarantee, marking another rise in the cost of a drawn-out rescue. Bankia also revised its earnings statement for 2011, stating that instead of a profit of €309 million, it had in fact lost €4.3 billion before taxes, and asked for 1.4 billion fiscal credit to reduce its loss. The New York Times described the increasing bailout as making Spain one of the new focal points of the European sovereign-debt crisis.
- Investment bankers found little interest in the IPO among international institutional investors.
- On 27 June 2017, Bankia agreed to acquire state-owned bank BMN for €825 million in an all-stock deal.
- A number of limitations were imposed as a result of having received state aid.
- In response to growing concerns, Standard & Poor’s downgraded its rating of Bankia’s creditworthiness to BB+, making it a junk bond.
BMN was the result of the merger of the savings banks Caja Murcia, Caja Granada and Sa Nostra. On 3 November, Bankia announced that it was listed in the CDP Climate Change report for 2017 as one of a group of 112 global companies leading the fight against climate change. adss forex review The deadline for the privatisation of Bankia was end-2019, however, in December 2018 the Government decided to postpone the privatization until end-2021. In 2012, Bankia was the third-largest lender in Spain, but the largest holder of real estate assets at €38 billion.
Ampliaciones de capital ( AK ) de Bankia
The bank was bought by Caja Madrid for $1.12 billion in 2008. At the end of 2015, Bankia had fulfilled two years ahead of schedule all the targets set by the European Commission in the BFA-Bankia Group Restructuring Plan. The bank also reported the best efficiency, solvency and profitability among the six largest Spanish banks. On dowmarkets 10 May, the Spanish government said it would convert its preference shares in BFA into voting shares, giving it a controlling stake of 45% in Bankia. On 25 May, trading in the shares was suspended at Bankia’s request. On 23 February 2016, Fitch raised Bankia’s rating to “BBB-“, restoring the bank’s rating to investment grade.
On 8 September, Bankia announced that it was included in the Dow Jones Sustainability Index with a score of 84 out of 100. On 28 February 2014, Spain sold a 7.5% stake in Bankia for €1.3 billion. Further divestment was expected for 2014 under the rescue programme, but did not happen.
¿La cuenta corriente de Bankia y CaixaBank se unificarán en una única cuenta?
The court said that the prospectus for its public stock offering had contained “serious inaccuracies”. The bank is aware of lawsuit claims totalling €819 million and has set aside €1.84 billion in provisions for claims. On 17 February 2016, the bank announced it would fully compensate minority shareholders who participated in the IPO in exchange for returning their shares to the bank. They will receive 100% of their investment plus 1% compensatory interest per annum. In January 2022, Carlos San Juan de Laorden, a retired urologist from Valencia with Parkinson’s disease started an online petition for more human customer care at bank branches. At a malfunctioning ATM a sign informed customers that they could only be seen with appointments, but no appointments could be made by phone.
Insolvency and state bailout
Concerns about the value of Bankia’s assets, and the potential for further losses in the future, prompted speculation that the Spanish government would inject up to €10 billion of new capital into the troubled bank. As of 2017, Bankia was the fourth largest bank in Spain with total assets of €179.1 billion. In 2021, the bank merged with CaixaBank to create a new entity but preserving the name of the latter. Bankia sold around €5 billion in complex financial products such as preference shares and subordinated debt to customers. On 15 July 2016, the time limit for submissions of applications for arbitration expired. On 27 January 2016, the Spanish Supreme Court ordered Bankia to reimburse two small investors for misleading them during its 2011 IPO.
