absorption Bankia, on behalf of CaixaBank, has been the great commitment of the Government of Pedro Sánchez to increase its percentage. AIDS it will be possible to get better status 24.069 million Amount of euros injected into the expropriated group by the administrators José Luis Rodríguez Zapatero (5,380 million in 2010) and above all, Mariano Rajoy (18.689 million in 2012 and 2013). So far the vice president’s decision Nadia Calvino It turned out to be correct to accept the merger of the two organizations proposed by Isidre Fainé, president of the La Caixa Banking Foundation. The public stake in CaixaBank is currently approx. 5.396 million euro: 3.431 million and 174% more What was the market value of shares in Bankia when merger-related contacts emerged? To put it in perspective, mountain goat 35 rose 42% in the same period. Therefore, the State has an asset worth today. 2.7 times more has 1.965 million September 2020.
Looked at from another perspective: 5.396 million stock market value The current public participation in CaixaBank is equivalent to: 22.4% of 24,069 million injected by the state against 8.2% representing the value Joining Bankia When did the negotiations occur? This percentage will be required To add What the State achieved in its time B.F.A., is 100% owned by the Public Fund for Regular Restructuring of Banks (FROB). Former Bankia parent company, 17.32% of CaixaBankbut he also has a portfolio debt bonds published by Sareb (1.447 million by the end of 2022) and heritage net 4.958 million (also at the end of last year).
In every situation, final rescue bill This situation will not be known to the State, as it was inherited by the current Government after the de facto intervention of Bankia in 2012, instigated by the then Minister Luis de Guindos. Liquidate BFA and exit CaixaBank’s capital. For the latter, the Executive surrendered itself. end of 2025but it’s up to you Extend this period as much as you wish. In fact, the Rajoy Government had already done this. 2016 and 2018Sánchez also confirmed this 2021 and 2022. The difference is that in the first three cases the reason was Bankia’s price on the stock market dropped caused by the period of low and negative interest rates, last year “Caixabank share potential “To continue positive development in an environment where interest rates are rising,” he said.
Maximize recovery
Vice President Calviño has been providing him with assurances in this sense for years. primary target Regarding first Bankia and then CaixaBank, “to achieve greater efficiency in the use of public resources, maximize salvage value Ensuring the involvement of the state and thus responding to the ultimate goal protect the general interest“. In this regard, the bank’s CEO, Gonzalo Gortazarannounced a few weeks ago that the organization would update its strategic goals for the 2022-2024 period in January. remuneration to shareholders Over a period larger than the 9,000 million initially promised, as the results went much better than expected.
9,000 million announced in May 2022, distributed among: dividend payment (the bank allocates 50% to 60% of the profit for this), share buyback (increases earnings per share by reducing securities outstanding) and future extraordinary distribution of excess capital It is between 11% and 12%, which is above the solvency target. Firstly, to the state Corresponded via FROB about 1,440 million It owns 16.12% of its shares. However, it is estimated that the final amount will be higher due to the bank revising this $9 billion upwards in fees. public participation already exists in existence at 17.32% (due to share buybacks and depreciations last year worth 1.8 billion) and most likely will rise even higher (Once the 500 million share buyback is completed for this year).
Public coffers for now Only 346 million people entered equivalent to 1.4% of the 24,069 million injected for rescue. Bankia returned 3 billion 303 millionadded to these 523.6 million in dividends already received CaixaBank. However, these funds never reached the State accounts, as they served to cover part of the revenue. BFA assets decline It was caused by losses accumulated from 2015 to 2020 due to the continuous decline of the Bankia stock market due to the negative interest rate environment. Blocked this group will begin to return capital was injected into the FROB vault as planned. agreement obtained with European Commission in 2012. However, the good development of shares in CaixaBank indicates that BFA is currently provides two years of benefitsTherefore, the possibility of returning some of the aid for the first time is on the table once again.