Inactive Instrument

Bankia SA BME

Equities

BKIA

ES0113307039

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2021	Mapfre Sells 51% Bankia Vida Stake to JV Partner Caixabank in $648 Million Deal	MT
2021	CaixaBank S A : Capital Buffer to Rise Following Bankia Merger	MT

Bankia SA : Spain's banks must cut branches, bondholders to share losses: EU Commission

November 28, 2012 at 04:11 pm IST

MarketScreener.com By

BRUSSELS (Reuters) - Spain's restructured banks will need 37 billion euros ($47.84 billion) and will cut their network of branches by up to 50 percent, while their bondholders will face losses, the European Commission said on Wednesday.

"What we've approved today means that the funds for the European Stability Mechanism can be disbursed," EU Commissioner Joaquin Almunia told a news conference, referring to the euro zone's permanent rescue fund that has agreed to lend funds to recapitalize Spain's banks.

"The total amount adopted today is 37 billion euros," Almunia said.

(Reporting by Robin Emmott and Foo Yun Chee; editing by John O'Donnell)

Stocks treated in this article : Bankia SA, Banco de Valencia SA

Latest news about Bankia SA

Mapfre Sells 51% Bankia Vida Stake to JV Partner Caixabank in $648 Million Deal	30/21/30	MT
CaixaBank S A : Capital Buffer to Rise Following Bankia Merger	29/21/29	MT
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Bankia, S.A.(BME:BKIA) dropped from FTSE All-World Index	30/21/30	CI

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Company Profile

Bankia, S.A. is a banking group organized around three areas of activity: - retail banking (63.5% of Net Interest Income): sales of standard and specialized banking products (consumer credit, insurance, etc.); - business banking (19.7%); - other (16.8%). At the end of 2019, the group was managing EUR 124.8 billion in current deposits and EUR 117.4 billion in current loans. Products and services are marketed via a network of 2,275 branches located in Spain.

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