new caixabank

The Merger Of Bankia And Caixabank Already Legal; It Revalues The State’s Stake In Bankia By €1.6 Bn

On Monday 29 March, the newly issued shares of Bankia will be integrated into the CaixaBank stock in the Ibex 35 and Ibex 35 Banks index. At the press conference held to mark the registration of the new bank in the Business Registry, Goirigolzarri stated that the state’s stake in Bankia through the Fund for Orderly Bank Restructuring (FROB) has increased by around €1.6 billion since the merger with CaixaBank was announced last September. 


Bankia: A Tale Of Successful Restructuring Leading To Growth

Fernando Rodríguez |Bankia’s integration of BMN has transformed the stock in the eyes of analysts and fund managers: the restructuring period is over and now it’s time for growth. If the execution of the merger avoids the limited risks which it would seem to involve, the macroeconomic scenario in Spain, and interest rates on the rise in Europe, should favour the bank’s business and boost Bankia’s share price, which has already heated up of its own accord.


The Uncertain Future Of Spain’s Bailed Out Savings Banks

The savings banks which were bailed out by the FROB continue to present problems for that institution and the government. The idea was that after they were restructured and their value had increased, they would find a buyer or incorporate a partner with a controlling stake or seek a stock market listing. So then they would give back at least a good part of the state aid received from the FROB. But these plans are turning out to be difficult to implement.

Bankia's president J.I. Goirigolzarri

Bankia’s dividend: Timely or premature?

MADRID | April 24, 2015 | By Fernando G. Urbaneja | Bankia held its general meeting in Valencia (headquarters of one of the integrated in the brand new boxes) this week to approve its 2014 results –the year of the firm’s regeneration– and design its future roadmap. One of its non-explicit goals is to accelerate the partial and progressive privatization of the entity before November general elections in Spain.

No Picture

Spain regains €136 million with first steps of Bankia’s privatisation

MADRID | The Corner Team | Bankia’ listing in Madrid Stock Exchange was cancelled up to 10 A.M on Friday. One hour later it was known that Spain sold 7.5% of the entity’s capital announced on Thursday at a value of 1.51 euros per share, which amounts a total of €1.3bn and also a discount of 4.4% against yesterday’s closing prices. Furthermore, the sale allows Spain to earn €136 million. With figures aligning with analysts’ estimations, the start of Bankia’s privatisation proves external confidence in Spanish financial sector recovery. 

No Picture

Public cost of the Spanish financial crisis amounts to 5.9% of GDP

MADRID | By Carlos Díaz Güell | According to the Bank of Spain, the public aid for the recapitalisation of the Spanish financial system between 2009 and 2013 amounts to €61.366 billion (£51.739bn), 5.9% of the GDP. This is below the average cost of other banking crisis since 1970. In the late 1970s and early 1980s the public cost of the financial crisis was of 3.9% of the GDP.

No Picture

Debt difficults Spanish banks mergers and auctions

José Luis Marco, CAPITAL MADRID | Spanish government’ two first RDL condemned more than one financial institution to the red throughout this exercise. The sentence has not been limited to the four entities under the FROB umbrella but has also reached some entities that are in the process of integration with other groups, such as CEISS Bank, Caja Duero Spain, in full merger with Unicaja, to take losses of 125…