All this testifies to the consolidation of a self-sustainable model for generating capital of the highest quality in terms of permanence, availability and loss-absorbing capacity. Stable profit generation allowed the Group to pay dividends for the years 2014 to 2019. In 2015, out of profit for 2014, it paid the first dividend since the Group’s recapitalisation in 2012. Since then, the amount of the dividend has increased year on year with a cumulative volume of €1,862 million (see section 18.5 for more detail on the dividend policy and the amounts paid to shareholders for this item). BIS III phase-in Tier I capital includes common equity Tier 1 plus additional Tier I capital.

¿Por que invertir en renta fija?

La renta fija ofrece una serie de ventajas a los inversores: Son instrumentos de baja volatilidad y riesgo, ideal para los inversores más conservadores. Esto tiene como contrapartida una rentabilidad más baja en relación con otros productos de inversión. Permite obtener una renta periódica por el capital invertido.

The joint merger plan will be submitted for approval at the banks’ respective shareholders meetings in November. On 27 June 2017, Bankia agreed to acquire state-owned bank BMN for €825 million in an all-stock deal. BMN was the result of the merger of the savings banks Caja Murcia, Caja Granada and Sa Nostra. On 3 November, Bankia announced that it was listed in the CDP Climate Change report for 2017 as one of a group of 112 global companies leading the fight against climate change.

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

The remuneration corresponding to executive functions assigned to the executive directors of the Bank will also be stated in the report, individually and for each of the categories. Every year, that report is submitted to the General Meeting of Shareholders for a consultative vote. The General Meeting of Shareholders held on 27 March 2020 approved, on a consultative basis, the annual report on remuneration of members of the Board of Directors of Bankia for 2019. A) Make proposals to the Board of Directors regarding the policy on the remuneration of directors and general managers or senior managers who report directly to the Board, executive committees or the CEO, as well as the individual remuneration and other contractual terms of executive directors; and overseeing compliance. The Audit and Compliance Committee will meet whenever a meeting is called by resolution of the Committee itself or its chairman, at least four times per year.

  • At the date of this Universal Registration Document, neither the General Meeting of Shareholders nor the Board of Directors of Bankia has agreed on any change relating to the Board of Directors or the Board committees that could have a significant impact on Bankia’s corporate governance.
  • It should be noted that on 15 September 2020 Bankia received authorisation from the Governing Council of the European Central Bank to make a material change to the probability of default parameters it uses in its model for calculating credit risk capital requirements on its retail mortgage business, following a request it made in October 2018.
  • An executive committee may be established, composed of a minimum of five and a maximum of seven directors.
  • The results of the vulnerability assessment show that in the base-case scenario the average fall in CET1 over the period concerned is -1.9 bp to 12.6% in 2022, meaning that banks can continue to operate normally and can continue lending to the economy.
  • B) Ensure that the pricing of the assets and liabilities offered to customers takes the Company’s business model and risk strategy fully into account.
  • At the date of this Registration Document, the FROB, through BFA, holds an indirect interest of 61.823% in Bankia’s share capital.

Debt securities in the portfolio of financial assets at amortised cost, meanwhile, increased by €1,084 (+3.3%) to €33,742 million following the execution of the reinvestment proposal approved by the Group in January 2018. A) Not to enter into transactions with the Company, unless they are small-scale, ordinary transactions carried out on the standard terms for customers, that is to say, transactions that do not need to be reported in order to give a true and fair view of the Company’s assets and liabilities, financial position and results of operations. G) Assess the functioning of the internal audit unit and the performance of its head, for which purpose the Committee must gather the opinions of other specialised committees and senior executives. The conclusions of the assessment carried out by the Committee must be reported to the head of internal audit and must be taken into account by the Company in determining the head’s annual variable remuneration. In line with its retail banking business model, the Bankia Group’s main source of external funding is customer deposits, supplemented by market funding, which the Group obtains through deposits from credit institutions, debt issuance in the capital markets and the balances it holds at the ECB. In December 2019 the ECB informed the Bankia Group of the minimum capital requirements applicable to it with effect from 1 January 2020.

Financial Reports

Reclassifications between segments have been made in the comparative information corresponding to 2017 with respect to the information included in the consolidated annual accounts for 2017, after the conclusion of the integration and reassignment of segments to the asset portfolio originating from the BMN business combination. Inadequate management by the Bank of operational risk, including behavioural risks, could have an adverse effect on the business, results and financial situation of the Bankia Group. In addition, any failure in the security of the Group’s systems could alter its business, leading to the disclosure of confidential information and generating significant exposure to financial and legal risks. These non-traditional providers of banking services currently have a competitive advantage over traditional providers because they are not subject to banking regulation.

There is a risk that the values at which these assets are recorded in the balance sheet (and those which may be included in the future as a result of the Bank’s activity) would not match their realisable value if they had to be sold today on the Spanish real estate market. CreditRiskMonitor is a financial risk analysis and news service for credit, supply chain and financial professionals. Our strength in coverage spans 58,000 global public companies, totaling about $70 trillion in corporate revenue. We also offer solutions that can help ease private company financial risk assessment. Leading corporations around the world – including more than 35% of the Fortune 1000, plus thousands more worldwide – rely on us to help them stay ahead of financial risk quickly, accurately and cost-effectively.A partial report preview for BFA Tenedora de Acciones SAU is shown below. Where indicated by “Yes,” CreditRiskMonitor contains this information in its extensive database.

Commercial Bank

In 2018 the minimum requirement in terms of phase-in common equity was 8.563% and in terms of total phase-in capital it was 12.063%. On 1 January 2019 the transitional period for the minimum capital requirements ended, so the requirements are equalised for phase-in and fully loaded metrics15. Within the framework of the buyback performed by BFA of certain preferred participating securities or convertible preferred shares and subordinated debt, on 10 February 2012 Bankia’s Board of Directors resolved to carry out a cash capital increase without pre-emptive rights.

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The executive committee will have permanently delegated to it such legally delegable authority of the board of directors as it resolves to delegate to it. An executive committee may be established, composed of a minimum of five and a maximum of seven directors. In any event, the number of members of the executive committee will be determined either directly by express resolution or indirectly by way of filling vacancies or appointment of new members within the established maximum. The board of directors also may create other committees, with such authority as the board of directors may determine. The assigning or delegating resolution will determine the scope of the authority given to the chief executive officer, the remuneration corresponding thereto in this regard and any other terms and conditions of the relationship, which will be incorporated in an appropriate contract.

Preference shares

P) Formulation of the annual accounts and their presentation to the general meeting. L) The calling of general meetings and preparation of the agenda and the proposal of resolutions. Any shareholder voting against a given resolution will be entitled to have its opposition to the adopted resolution noted in the minutes of the general meeting. Answers to shareholders exercising their information right during the meeting, if it is not possible to meet the shareholder’s request at that time, will be given in writing during the seven days following the end of the meeting. The chairman will lead the meeting and will submit the matters on the agenda for deliberation as they appear thereon, and will lead the debate in order for the meeting to proceed in an orderly manner. Any person entitled to attend may speak at least once regarding each of the points on the agenda, although the chairman of the general meeting may establish the order of speakers and at any time set the maximum time allowed thereto.

At 30 June 2020 the deposits held at central banks totalled €23,026 million, compared to €13,809 million in December 2019, €13,856 million in December 2018 and €15,356 million in 2017. The evolution in June 2020 reflects the draw up to maximum capacity of the TLTRO III line with the ECB in the context of the liquidity measures adopted by the central bank in the context generated by the COVID-19 pandemic. At 30 June 2020, the “Customer deposits” line item in the consolidated beginners guide to forex trading balance sheet included €4,817 million of non-negotiable special mortgage covered bonds issued by the Group. It is a member of the MTS Spain trading platform and SENAF and MEFF. Bankia has books of interest rate, inflation, equity and exchange rate derivatives for managing the risk arising from the derivatives entered into by its corporate, institutional and branch customers and the risks of the Company itself (issuance, portfolios, balance sheet management, etc.).

No member of the Board of Directors or Senior Management of Bankia has been appointed under agreements or understandings with significant shareholders, customers, suppliers or others. The above provisions will also apply if the beneficiary of the prohibited actions or activities is a person related to a director. E) Not to seek advantages or remuneration from parties other than the Company and its group through the performance of their duties, unless the advantages or remuneration consist of mere business courtesies. C) Not to use the Company’s assets, including confidential information, for private ends. Furthermore, in accordance with article 31 of the Board of Directors Regulations, which states the duty of loyalty, directors must exercise their office with the loyalty of a faithful representative, acting in good faith and in the best interest of the Company.

¿Cuántos tipos de acciones hay?

Existen, a grandes rasgos, dos tipos de acciones: las acciones ordinarias y las acciones preferentes. En este artículo se analizan estos dos tipos de acciones. Las acciones, al igual que otros conceptos económicos, se pueden clasificar teniendo en cuenta diferentes factores.

The Committee must in any case oversee the performance of the internal audit unit. B) Ensure that the pricing of the assets and liabilities offered to customers takes the Company’s bdswiss forex broker business model and risk strategy fully into account. Where this is not the case, the Risk Advisory Committee will present a plan to remedy the situation to the Board of Directors.

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

The form of said payment and other details of payment will be in accordance with the terms of the capital increase resolution. Calculated as the sum of all the gains or losses obtained from managing the portfolios of financial assets and liabilities and accounting hedges, as recorded in the income statement. Net gains on financial assets and liabilities27 totalled €130 million, 6.8% less than at June 2019, because of the lower volume of sales of fixed-income securities in the first six months of the year. This attributable profit included profit from discontinued operations amounting to €6 million, including the results of Cajamurcia Vida and Caja Granada Vida after the acquisition of 100% of the share capital of both companies on 10 July 2018. Prior to that date, the results of these two companies were consolidated using the equity method.

  • In the end, the rescue plans approved by the European Commission on 27 June 2012 under state aid rules included an equity injection for €4465 million and a liquidity guarantee of €19 billion to BFA, 12 of which would be provided to Bankia.
  • There are no known individual shareholders with direct or indirect holdings of 3% or more of the share capital (or 1% in the event that the shareholder’s tax domicile is in a tax haven) other than those contemplated in the above table.
  • Also, on 23 January 2020 Bankia signed a contract of sale with Helvetia Schweizerische Versicherungsgesellschaft AG for its shareholding in Caja de Seguros Reunidos, Compañía de Seguros y Reaseguros, S.A.
  • Tier I capital includes the result of the year net of dividends in each period, except for June 2020, which does not include the payment of dividends from the result generated in the period.

The position of chairman of the Committee must always be held by an independent director. The chairman of the Committee must be replaced every four years and may be re-elected one or more times for additional four-year terms. The members of the Risk Advisory Committee are convert swedish krona to japanese yen appointed by the Board of Directors, taking into account their knowledge, aptitudes and experience and the Committee’s tasks. Banking union regulations ensure firstly that banks and their shareholders and, where necessary and in part bank creditors, will fund resolutions.

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