MADRID | By Francisco López | The sale of Catalunya Banc to BBVA practically closed the restructuring of the Spanish banking system, which was launched in 2009 at the height of the crisis, and that has reduced to less than a third the number of players in the sector.
MADRID | By Jaime Santisteban | M&A is getting really hot: Pfizer and AstraZeneca are forging the largest all-time merger in the pharmaceutical sector for $101bn, an operation that is stirring up investors. Apple turned to the bond market to fund its capital repurchase program again (it did the same one year ago). A 17bn blockbuster corporate bond debt sale that could the 2nd largest in History.
MADRID | By Jaime Santisteban | After the storm always comes the calm, and the dividend. Bankia’s Chairman José Ignacio Goirigolzarri revealed in the General Shareholders Assembly on Friday when first dividend will be distributed, probably in 2015. Restructuring plan (in record-breaking time) prevented the bank from doing so in 2014 and 2014. Reward wouldn’t just benefit small stockholders but also the State, that would get back part of the €22.4bn disbursed for BFA-Bankia bailout.
MADRID | By Julia Pastor | The UK is the European country which has given more financial support to its banking sector with €82.000 millions since 2008, followed by Germany (€64.000 millions), Ireland with €63.000 and Spain with €60.000, according to an European Comission’s report.
VALENCIA | By XTB analyst Miguel Rodríguez | The word is communication, one of the saddest failures of European politicians in general, who should take note of the Federal Reserve governor Ben Bernanke’s skills.
MADRID | By Luis Alcaide | Álvaro Rengifo, board director at Bankia, said in a interview with The Corner that Spanish banks were ahead of their European counterparts in acknowledging the weaknesses in their balance sheets.
MADRID | BFA-Bankia Group disposed of more than 5,600 foreclosed properties and subrogated 9,000 developer assets. Sales topped 1,600 million euros.
MADRID | Troubled entity Bankia became Friday the first Spanish bank to auction properties from development companies, besides real estate assets from its own portfolio. Discounts were up to 60%.
The new set of rules on restructuring and liquidation of ailing banking institutions planned to be approved next Friday confers full command to the Spanish…
FLORIDA | with informations from Brian Bandell | City National Bank of Florida reported improved earnings in the second quarter of the year as it announced plans for…