HistoryBankiaSpain

Banco Popular Hipotecas
The Spanish Well-liked Bank (BPE) is the fifth most significant banking group in Spain. Detailed on the Madrid Stock Trade and is part of the IBEX 35.

History

1926: Founding of the People's Bank of the foresight of the Potential on July 14, 1926, with a founding money of 10 million pesetas. It aims "to present companies to those who use their significant facilities in all sorts of economic and banking issues," doing "all operations, as peculiar to the credit card companies, are identified by the Business Code in force." Amongst other highlights founders Emilio Gonzalez-Llana and Fagoaga, and Alfonso XIII (acquired five hundred shares). 1947: Changes its title to the present Spanish Banco Common (BPE) 1968: BPE opens a representative workplace in Paris which gets to be a subsidiary that by 1991 a network of 14 branches in France. 1992: BPE converts its subsidiary in France in a joint venture with the Portuguese Business Bank beneath the identify Banco Popular Commercial and establishing a network of branches in Portugal. 2007: BPE TotalBank buy a small financial institution in South Florida for $ 300 million. The bank has 250 staff and 14 offices in Miami. 2008: On April 30 it was agreed the sale of Banco Well-known France (subsidiary of Grupo Banco Popular in France) to Cr?dit Mutuel - CIC for an volume of 85 million euros. Moreover, on September 25, 2008 the board made a decision to absorb four of its regional subsidiaries: Banco de Castilla, Banco de Credito Balear, Banco de Galicia and Banco de Vasconia. Left out of the operation the Bank of Andalusia. The disappearance of these four economic institutions and settlement was made without having making use of the block transfer of their property to Banco Popular, even though they retained their trademarks. 2009: On 19 May, the bank decided to soak up its most recent subsidiary, Banco de Andalucia 2010: June 28 announced a strategic alliance agreement with long-term French bank Cr?dit Mutuel-CIC for joint companies through a new banking platform that will operate in Spain, Portugal, France and Germany. 2011: On Oct 7 get Banco Pastor with a merger agreement by submitting a tender for 100% of the shares (offering 1.15 shares for every share Banco Well-known Banco Pastor), obtaining had an agreement just in excess of 50% having attained a main shareholder of Banco Pastor a commitment to sell.

Bankia Depositos
Bankia is the name of the bank subsidiary of Bank Cost Savings Financial. It is the first Spanish bank to domestic business, with total assets of 272,000 million euros and a internet value of 12,000 million euros.

History

Arises as a consequence of restructuring of the price savings system driven by the Financial Institution of Spain by means of a financial product named Institutional Defense System-SIP. In 2010 results in the Monetary Price Savings Bank jointly funded by Bancaja and Caja Madrid, which have joined La Caja de Canarias, Caixa Laietana, Caja de La Rioja, Caja Caja Segovia and Avila. This operation is known in monetary terms as chilly fusion is managed by Caja Madrid entity jointly handle about 340,000 million euros of property and acquire aid from the FROB close to 4.465 million.

The Finance and Financial Savings Bank was included on December 3, 2010 and commenced functions on January 1, 2011. On March 2, 2011 was introduced the new brand name, Bankia, born of the union of seven Spanish monetary institutions, with significant existence in their places of influence. The merger of the 7 instances was done in only four months, since the integration agreement was signed on July 30, 2010. The marriage was done below the determine of an Institutional Safety System, recognized as cold fusion. It is chaired since its development by Rodrigo Rato.

In March 2011 meetings of the seven cost savings banks that are part of its shareholders agreed to transfer all its property and liabilities Bankia, reserving the trade name, social operate and a number of properties deemed historical.

IPO The entity went manifeste on July 20, 2011 at a cost of 3.75 euros per share, which attracted 3.092 million euros. By appealing to the money markets, coated Bankia minimal capital requirements set up by Royal Decree Legislation for Strengthening the Fiscal Sector. Soon After the OPS, its Core Tier 1 stood at 9.9%.

Bankia has been included in the MSCI Worldwide Regular Indices Morgan Stanley Funds International6 and from October 3, 2011 will occupy the fourteenth spot in the Spanish index IBEX 35, becoming the fourth largest economic institution by marketplace capitalization.

Bankia, in addition to its IPO, has taken several methods to bolster its funds as provisioned 9,200 million euros in 2010 to strengthen the equilibrium sheet. It also has a quantity of basic allowances of 1,578 million euros.