Alantra advised Banco de Crédito e Inversiones on the acquisition of City National Bank of Florida

The main cash inflow from operating activities was from the group’s financial liabilities at amortised cost, which generated an inflow of €10,718 million (€4,669 million in the first half of 2019), due to the larger volume of financing obtained from the ECB through the TLTRO programme compared to the first half of 2019. 26 Alternative Performance Measure It is calculated as the difference between the average interest rate charged on loans and advances to customers and the average interest rate paid on customer deposits. As a result of all the above, the profit or loss attributable to the parent company for the first half of 2020 was €142 million, €258 million less than in the same period of 2019. Administrative expenses totalled €796 million, down 2.2% compared to June 2019, due to lower staff costs as a result of lower variable remuneration, temporary lay-offs and lower costs due to COVID-19.

On 8 September, Bankia announced that it was included in the Dow Jones Sustainability Index with a score of 84 out of 100. On 28 February 2014, Spain sold a 7.5% stake in Bankia for €1.3 billion. Further divestment was expected for 2014 under the rescue programme, but did not happen. tezos news In addition to the financial problems, the new management had to deal with controversies related to former managements. On 10 May, the Spanish government said it would convert its preference shares in BFA into voting shares, giving it a controlling stake of 45% in Bankia.

Bankia valued at €3.8B in all-share merger deal with CaixaBank

Operational risk includes the potential loss that may occur as a result of the inadequacy or failure of the Bank’s internal or external procedures, systems or security. Also, operational risk includes operational risks arising from external events or human failure, including legal risk and excluding strategic and reputational risk. A possible increase in interest rates could weaken the income and balance sheets of some economic agents, which could translate into defaults in relation to Bankia and so is a risk to be taken into account. The Board of Directors annually approves the limits and procedures for internal measurement of the risk of each of the products and markets in which the various business areas operate. The Market and Operational Risk Directorate, under the Corporate Risk Directorate, has the task of independent measurement, monitoring and control of the Bank’s market risk and the limits assigned by the Board of Directors.

The right to terminate each provision of services by providing reasonable prior notice and subject to ascertaining good faith and payment by the Parties of any breakage costs derived from an early termination, in the event of a change of control. During the two years preceding the date of this Universal Registration Document, no company of the Bankia Group has signed any material contracts other than those related to its own ordinary activity. At the date of this Universal Registration Document, no Group member has any capital subject to an option, or which has been conditionally or unconditionally agreed to be subject to an option.

Alantra advised Banco de Crédito e Inversiones on the acquisition of City National Bank of Florida

Shareholders may establish and be part of Associations of Shareholders of the Company provided that they comply with all the legal requirements for their creation and operation. Attendance at the general meeting by the represented shareholder, whether personally or by that shareholder’s having cast a remote vote, will constitute revocation of the proxy granted, whatever the date thereof. The chairman of the general meeting may authorise attendance at the meeting of any person he deems appropriate. All meetings, whether ordinary or extraordinary, are subject to the same rules of procedure and authority. If formal status as a shareholder is in a person or entity acting as a trustee or in a comparable role, the Company may demand that it provide information regarding the actual owners of the shares, as well as transfers and encumbrances thereof.

If the number of directors is not odd, the youngest director will not become a liquidator. Become liquidators, unless the general meeting has appointed other liquidators in the winding up resolution. The Company will be wound up in the cases and subject to the requirements contemplated in applicable legislation. The content of the report will be regulated in the board regulations.

EN BREVE-Los acuerdos de Bankia y Caixabank aprueban la fusión de los dos bancos

Retroactive effect, but in December 2016 the Court of Justice of the European Union rejected that decision. The CJEU ruled that Spanish consumers who signed a mortgage loan contract before the 2013 trial date were also entitled to obtain a refund of all amounts paid in excess to the banks. Up to 30 why is there a coin shortage in the us June 2020, the BFA-Bankia Group had created a provision of €1,851 million for legal contingencies, to cover costs arising from legal claims in relation to hybrid instruments, of which, as at that date, €1,746 million had been used. As at 30 June 2020, the total provision amounted to €105 million.

• He has been a director of National Express Group, plc and Hispania Activos Inmobiliarios and chairman of Autopista del Sol Concesionaria Española.
• Ask the statutory auditor for explanations about the internal quality control system it has in place to safeguard its independence, as well as information on internal practices regarding the rotation of the audit partner and audit team and whether those practices comply with applicable Spanish and EU regulations in this respect.
• The maximum amount of annual remuneration of all directors in their capacities as such must be approved by the general meeting and will remain in effect until modification thereof is approved.
• Additionally, on 23 January 2019 the Supreme Court declared in five judgments that, in case of nullity of the expenses clause of a mortgage loan, the consumer can claim the return of half of the agency expenses and notary fees of the original of the public deed, and all the expenses derived from the registration of the mortgage in the Property Registry.
• The Pillar II requirements initially communicated by the Supervisor (9.25%) have been adjusted to reflect the early application of article 104 a) of the CRR.

Information distributed in connection with the proposed transaction and the related shareholder vote is subject to Spanish disclosure requirements that are different from those of the United States. Financial statements and financial information included herein are prepared in accordance with Spanish accounting standards that may not be comparable to the financial statements or financial information of United States companies. Bankia sold around €5 billion in complex financial products such as preference shares and subordinated debt to customers. On 15 July 2016, the time limit for submissions of applications for arbitration expired.

BFA Tenedora Acciones Investment Preferences

The Deputy General Directorate of Financial Management of Bankia manages the Company’s own structural portfolios, invested mainly in public debt and corporate bonds, and also brokers all kinds of risks, both those generated by the products that Capital Markets distributes among customers and the Company’s balance sheet management risks. Meanwhile, the Group’s risk-weighted assets have been reduced through a gradual process of balance sheet deleveraging and disposal of non-strategic assets, in fulfilment of the undertakings given in the BFA-Bankia Group Restructuring Plan approved by the European Commission in November 2012, which was completed at the end of 2017. At the end of 2017, the integration with BMN meant an increase in RWA of €16,699 million. Includes impact of integration of BMN mainly by capital increase, restructuring costs and €16,699 million of RWA by integration of BMN on the balance sheet.

• There are no shares other than those representing the Bank’s capital stock.
• BFA Tenedora Acciones is a financial institution and is the holding company for Bankia, S.A. The entity was created in 2015 after Banco Financiero y de Ahorros was converted into holding company.
• In 2019, none of the members of the Board of Directors of Bankia received any remuneration on account of the duties they performed in BFA.
• In 2021, the bank merged with CaixaBank to create a new entity but preserving the name of the latter.
• For their approval at respective extraordinary general meetings, that are expected to be held in November or December 2020.

The holders of 500 or more shares registered in their names in the corresponding records five days in advance of the date a general meeting is to be held will be entitled to attend the meeting, whether it is an ordinary or an extraordinary general meeting. The Company must ensure that these proposed resolutions and the attached documentation, if any, are circulated among the other shareholders. Shareholders’ pre-emptive rights involving euro to norwegian krone exchange rate convert eur the issuance of convertible debentures may be withheld under the terms provided by law. Issue, provided said securities are neither convertible into shares nor entitle the holder to share in the Company’s profits. The entity responsible for maintaining the book entry records will advise the Company of transactions related to shares, and the Company well maintain its own records with the identities of the shareholders.

Financial Reports

She has extensive experience in banking, having served as internal auditor and controller with Santander Investment and in communication in listed companies. Ms. Blanco has served as general manager of Communication and External Relations at Gamesa and Ferrovial, chief of staff of the chairman of Hidrocantábrico and director and general manager of Vértice 360º. The Remuneration Committee will consult the chairman and, where appropriate, the CEO of the Company, especially in matters concerning executive directors and senior managers. D) Ensure the transparency of remuneration and the inclusion of information on directors’ remuneration in the annual directors’ remuneration report and annual corporate governance report; and, to that end, submit to the Board any information that may be appropriate. C) Serve as a channel of communication between the Board of Directors and the auditors , assess the results of each audit and the management team’s response to the auditor’s recommendations and mediate in the event of disagreement between the auditors and the management team regarding the principles and criteria to be applied in preparing the financial statements.

• The remuneration corresponding to executive functions assigned to the executive directors of the Company will also be stated in the report, individually and for each of the categories.
• The chairman of the committee will be a director that is a member thereof appointed by the Company’s board of directors.
• The court said that the prospectus for its public stock offering had contained «serious inaccuracies».
• Net interest income for the year totalled €2,049 million, €81 million (+4.1%) higher than in 2017 due to the consolidation of BMN.

At €11,906 million, the amount of fixed income securities in the portfolio of financial assets at fair value through other comprehensive income at December 2019 was €3,653 million lower than at December 2018 (-23.5%). Debt securities in the portfolio of financial assets at amortised cost, meanwhile, fell by €674 million to €33,068 million in 2019 (-2%). In both cases the reductions were due to the sale of public debt during the year, both Spanish and foreign.

The assessment includes the results of the EBA’s EU-wide 2020 Stress Test base-case scenario, which was designed before the start of the COVID-19 pandemic and provides a benchmark against which to assess the impact of the pandemic on European banks. It is calculated as the financial liabilities at amortised cost on the balance sheet, from which other financial liabilities are excluded. As of the date of this Universal Registration Document, central bank deposits, within the framework of the programmes designed by the ECB to improve the financing of institutions, include €22,919 million in these programmes. Specifically, the entire amount currently down corresponds to Targeted Longer-Term Refinancing Operations (“TLTRO”) Programme III, which has been drawn to its maximum capacity as a preventive measure to ensure that liquidity is available at all times in order to be able to finance customer requirements that may arise from the situation caused by COVID-19. The percentage of own financial resources over total resources, both own funds and debt funding, was 6.2% in June 2020, 6.7% in 2019, 6.7% in 2018 and 6.6% in 2017. The reduction in the Bankia Group’s equity in the first half of 2020 is mainly due to the payment of the dividend recorded in March against 2019 earnings (€352 million) and the result generated in the first half of 2020 (€142 million).