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 : sells €103 million portfolio of doubtful and failed loans

March 31, 2017 at 05:12 pm EDT

The deal reduces the bank's balance of doubtful loans by €77.24 million

Bankia has signed an agreement to sell a portfolio of €102.97 million in doubtful and failed loans in different industrial sectors, although predominately real estate developer risk.

The loans in the commercially-named 'Gold' portfolio are partly secured by real estate guarantees.

The sale will achieve a dual objective. Firstly it will reduce the level of non-performing assets by selling these doubtful and failed loans, while also improving liquidity and freeing up funds that can be used to provide new credit.

The sale of this portfolio will reduce Bankia's doubtful loans heading by €77.24 million.

The operation was carried out as a competitive tender among leading institutional investors and financial institutions to maximise the price obtained.

This was Bankia's first portfolio sale in 2017 and marks yet another step in the bank's commitment to divest all non-core assets.

Bankia SA published this content on 30 March 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 31 March 2017 21:11:11 UTC.

Original documenthttp://www.bankia.com/en/communication/in-the-news/press-releases/bankia-sells-103-million-portfolio-of-doubtful-and-failed-loans.html

Public permalinkhttp://www.publicnow.com/view/DF5BE83A4AD68E94D016B3FE0F4870258AFC95E1

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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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