Post by account_disabled on Jan 16, 2024 23:04:44 GMT -5
CaixaBank will become the first bank in Spain at the beginning of 2021 after the acquisitions of recent years and the upcoming absorption of Bankia , with which the group will integrate almost twenty entities that received more than 31,000 million in public aid in the last decade. To be exact, 31,149 million euros, according to data collected by Efe, which includes 22,424 million from Bankia and its parent company BFA , but also 6,103 million from Banco de Valencia , 1,645 million from BMN or 977 million from Banca Cívica. . After the outbreak of the financial crisis in Spain, La Caixa took advantage of its financial position to gain size through acquisitions such as Caixa Girona in 2010 or Bankpime in 2011. In parallel, at the end of 2010 Caja Madrid and Bancaja, together with The Caja de Canarias, Caja Ávila, Caja Segovia, Caja Rioja and Caixa Laietana created the BFA group with public aid of 4,465 million; In 2011 they formed Bankia, the subsidiary that went public.
A year later, after the Bankia presidency was replaced, the new team led by José Ignacio Goirigolzarri asked that this aid be converted into capital and demanded an additional injection of 17,959 million, which raised the rescue to 22,424 million . Of that amount, 11,804 million corresponded to BFA and the remaining 10,620 million directly to Bankia, of which 3,303 million have been recovered: 2,122 million Whatsapp Number List with the sale of the entity's shares and 1,180 million through the payment of dividends. In addition, the FROB points out that 346 million in interest and commissions have been recovered for the initial aid it granted to the group. Apart from Bankia, at the same time other groups emerged from the union of several entities, among them Banca Cívica, with Caja Navarra, Cajasol, CajaCanarias and Caja de Burgos; and also BMN, originally Banco Mare Nostrum, with Caja Murcia, Caja Granada and the Balearic Sa Nostra, and initially also to Caixa Penedès.
Banca Cívica received public aid of 977 million at the time of its creation, went public in 2011 and shortly after was acquired by CaixaBank, which decided to return those funds, for which the State had already added 165 million in interest. That was one of the first significant acquisitions of CaixaBank, which had already been made with Caixa Girona and Bankpime, however the Catalan group continued to grow with the purchase of other entities, such as the Bank of Valencia. The Bank of Spain had intervened in this entity at the end of 2011 and, through different operations, the State injected a total of 5,498 million to reinforce its capital before being sold to CaixaBank for the symbolic price of one euro and granting it a series of guarantees. which so far have cost 605 million more. That is why the public aid acxulated by the Bank of Valencia amounts to 6,103 million euros.
A year later, after the Bankia presidency was replaced, the new team led by José Ignacio Goirigolzarri asked that this aid be converted into capital and demanded an additional injection of 17,959 million, which raised the rescue to 22,424 million . Of that amount, 11,804 million corresponded to BFA and the remaining 10,620 million directly to Bankia, of which 3,303 million have been recovered: 2,122 million Whatsapp Number List with the sale of the entity's shares and 1,180 million through the payment of dividends. In addition, the FROB points out that 346 million in interest and commissions have been recovered for the initial aid it granted to the group. Apart from Bankia, at the same time other groups emerged from the union of several entities, among them Banca Cívica, with Caja Navarra, Cajasol, CajaCanarias and Caja de Burgos; and also BMN, originally Banco Mare Nostrum, with Caja Murcia, Caja Granada and the Balearic Sa Nostra, and initially also to Caixa Penedès.
Banca Cívica received public aid of 977 million at the time of its creation, went public in 2011 and shortly after was acquired by CaixaBank, which decided to return those funds, for which the State had already added 165 million in interest. That was one of the first significant acquisitions of CaixaBank, which had already been made with Caixa Girona and Bankpime, however the Catalan group continued to grow with the purchase of other entities, such as the Bank of Valencia. The Bank of Spain had intervened in this entity at the end of 2011 and, through different operations, the State injected a total of 5,498 million to reinforce its capital before being sold to CaixaBank for the symbolic price of one euro and granting it a series of guarantees. which so far have cost 605 million more. That is why the public aid acxulated by the Bank of Valencia amounts to 6,103 million euros.