Bankia is in the banking Sector
- What does Bankia’s Restructuring Plan for 2012-2017 consist of?
On 28 November 2012 the European Commission approved Bankia's 2012-2107 Restructuring Plan, which provides the necessary framework for our Strategic Plan.
The Plan is intended to guarantee the viability of Bankia and make it a solvent, profitable and efficient institution.
However, the European and Spanish authorities have imposed certain limitations: under the Memorandum of Understanding (MOU), shareholders and hybrid security holders must bear part of the burden of the recapitalisation; Bankia must adjust its capacity and reduce the size of its balance sheet; shareholder dividends are temporarily restricted until 2014; and Bankia must reduce its branch network and workforce between 2012 and 2015.
- 🇪🇸 Spain
- €2.59 yesterday's close
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