Inactive Instrument

Bankia SA BME

Equities

ES0113307021

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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 : BFA-Bankia sells a €558 million portfolio of doubtful real estate developer loans

June 01, 2015 at 05:07 am EDT

The sale will contribute €20 million to the Group's capital

BFA-Bankia has signed an agreement to sell a €558 million portfolio of doubtful real estate developer loans, some of which are secured by real estate guarantees.

The sale, which consists of 180 transactions, will improve the bank's NPL ratio by divesting these doubtful loans, freeing up funds for new lending and improving liquidity. It will also contribute €20 million to the capital of the BFA Group, of which €16 million relates to Bankia.

Of the total value of the portfolio, €373 million comes from Bankia's balance sheet and €185 million from BFA's.

The sale was carried out by means of a competitive tender among leading institutional investors and financial institutions to maximise the price obtained.

The bank continues to make progress in its Strategic Plan 2012-2015, which includes a commitment to divest all non-core assets.

Sales such as these from its loan portfolio are in addition to Bankia's target of organically reducing its non-performing assets by €2,000 million.

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Latest news about Bankia SA

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Crédit Agricole Consumer Finance S.A. completed the acquisition of remaining 49% stake in SOYOU from Bankia, S.A..	21-06-02	CI
Caixabank staff protest Spanish layoffs as executives' pay divides shareholders	21-05-14	RE
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Bankia, S.A.(BME:BKIA) dropped from FTSE All-World Index	21-03-30	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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