HistoryBankiaSpain
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Banco Popular
The Spanish Well-known Bank (BPE) is the fifth greatest banking group in Spain. Detailed on the Madrid Stock Trade and is component of the IBEX 35.
History
1926: Founding of the People's Bank of the foresight of the Foreseeable Future on July 14, 1926, with a founding richesse of ten million pesetas. It aims "to supply providers to people who use their key amenities in all varieties of financial and banking issues," performing "all operations, as peculiar to the credit card companies, are decided by the Industrial Code in force." Between other highlights founders Emilio Gonzalez-Llana and Fagoaga, and Alfonso XIII (acquired five hundred shares). 1947: Changes its name to the current Spanish Banco Common (BPE) 1968: BPE opens a representative office 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 Financial Institution below the title Banco Popular Commercial and establishing a network of branches in Portugal. 2007: BPE TotalBank acquire a modest financial institution in South Florida for $ 300 million. The bank has 250 employees and 14 offices in Miami. 2008: On April 30 it was agreed the sale of Banco Common France (subsidiary of Grupo Banco Popular in France) to Cr?dit Mutuel - CIC for an amount of 85 million euros. Moreover, on September 25, 2008 the board made the decision to absorb 4 of its regional subsidiaries: Banco de Castilla, Banco de Credito Balear, Banco de Galicia and Banco de Vasconia. Still Left out of the operation the Financial Institution of Andalusia. The disappearance of these 4 monetary institutions and settlement was created with out making use of the block transfer of their assets to Banco Popular, despite the fact that they retained their trademarks. 2009: On 19 May, the financial institution determined to soak up its latest subsidiary, Banco de Andalucia 2010: June 28 introduced a strategic alliance agreement with long-term French bank Cr?dit Mutuel-CIC for joint providers via a new banking platform that will run in Spain, Portugal, France and Germany. 2011: On Oct 7 buy Banco Pastor with a merger arrangement by submitting a tender for 100% of the shares (offering 1.15 shares for each share Banco Well-known Banco Pastor), having had an agreement just over 50% having achieved a key shareholder of Banco Pastor a dedication to sell.
Bankia
Bankia is the title of the financial institution subsidiary of Financial Institution Financial Savings Financial. It is the initial Spanish financial institution to domestic business, with total property of 272,000 million euros and a net worth of 12,000 million euros.
History
Arises as a end result of restructuring of the cost savings system driven by the Financial Institution of Spain by means of a financial model called Institutional Defense System-SIP. In 2010 produces the Economic Financial 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 recognized in fiscal terms as chilly fusion is managed by Caja Madrid entity jointly deal with about 340,000 million euros of property and acquire assist from the FROB near to 4.465 million.
The Finance and Financial Savings Financial Institution was integrated on December 3, 2010 and started functions on January 1, 2011. On March 2, 2011 was introduced the new brand name name, Bankia, born of the union of 7 Spanish financial institutions, with significant presence in their places of influence. The merger of the seven situations was executed in only four months, since the integration contract was signed on July 30, 2010. The marriage was executed under the determine of an Institutional Defense System, known as cold fusion. It is chaired since its development by Rodrigo Rato.
In March 2011 conferences of the seven savings banks that are component of its shareholders agreed to transfer all its assets and liabilities Bankia, reserving the trade name, social operate and a amount of properties regarded historical.
IPO The entity went public on July 20, 2011 at a cost of 3.75 euros per share, which attracted 3.092 million euros. By interesting to the richesse markets, coated Bankia minimal richesse demands founded by Royal Decree Legislation for Strengthening the Monetary Sector. Right After the OPS, its Core Tier 1 stood at 9.9%.
Bankia has been included in the MSCI International Normal Indices Morgan Stanley Money International6 and from Oct 3, 2011 will occupy the fourteenth location in the Spanish index IBEX 35, becoming the fourth most significant economic establishment by marketplace capitalization.
Bankia, in addition to its IPO, has taken various measures to strengthen its funds as provisioned 9,200 million euros in 2010 to strengthen the balance sheet. It also has a volume of standard allowances of 1,578 million euros.
