Categories: BankingEuropeFinance

Share Trading Suspended in the Spanish Lender Bankia, Pushing Spain Ever Closer to Needing a Bailout

Bankia Headquarters. Picture: The Guardian

The Spanish market regulator CNMV said it was “due to circumstances that may affect the normal share trading”.

There are reports that Bankia will ask the government for a bailout of more than 15bn euros ($19bn; £12bn) after a board meeting later on Friday.

Bankia, is Spain’s fourth-largest bank, was semi-nationalised two weeks ago because of its problems with bad property debt.

The Spanish government has already put in 4.5bn euros in state loans that the government converted into shares in the group in the part-nationalisation process.

Bankia’s parent company Banco Financiero y de Ahorros (BFA) has also had its shares suspended.

Bankia was created in 2010 from the merger of seven struggling regional savings banks.

It holds 32bn euros in distressed property assets.

The viability of Spain’s banking system is key to whether the country eventually needs to seek a bailout itself from the eurozone and the IMF.

CFI

Recent Posts

From Dubai Chocolate to AI: The Middle East in Transition

A sweet retail success in Dubai reflects a deeper transformation across the Middle East —…

1 day ago

Cube Labs: Transforming Scientific Discovery into Scalable Healthcare Innovation

Italy-based Cube Labs is redefining healthcare venture building by bridging the gap between academic research…

4 days ago

Filippo Surace: The Visionary Behind Italy’s Healthcare Venture Revolution

From surgeon to life sciences entrepreneur, Filippo Surace is charting a new course for healthcare…

4 days ago

Is the MBA Still Worth It? Weighing Value, ROI, and Leadership Impact

In an era of rapid disruption, does the traditional MBA still hold its weight? We…

1 week ago

Jefferies Trades Lone-Wolf Culture for Team-First Strategy in Bid for Wall Street’s Top Tier

For decades, Jefferies built its reputation as Wall Street’s maverick outpost — the last independent,…

1 week ago

When Trust Erodes: Unpacking the Anatomy of Corporate Scandals

Corporate scandals, from Wells Fargo’s fake accounts to Enron’s fraudulent accounting, shatter public trust and…

3 weeks ago