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José Sevilla during his speech at the XXVI Meeting of the Financial Industry organized by Deloitte and ABC

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José Sevilla has participated in the XXVI Meeting of the Financial Industry

Bankia generated a capital of 1.17 billion euros by March

The CEO of Bankia has indicated that these figures allow to advance in the goal of distributing up to 2,500 million euros among shareholders, as reflected in the current Strategic Plan 2018-2020.

Communication Bankia

By  Communication Bankia

Publish on 
08 May 2019 - 18:00

  • José Sevilla has participated in the XXVI Meeting of the Financial Industry organized by Deloitte and ABC
  • The CEO of Bankia has also highlighted the effort made by the entity in reducing unproductive assets "well above the objectives we had set ourselves"

Bankia's CEO, José Sevilla, highlighted that the bank generated a capital of 1.17 billion euros in 2018 and the first quarter of 2019, which makes it possible to move forward with the goal set forth in the 2018-2020 Strategic Plan to distribute up to 2.5 billion euros among its shareholders.

This was mentioned by Sevilla during his speech at the XXVI Meeting of the Financial Industry held by Deloitte and ABC, at which he reiterated the bank's commitment to creating value for all its shareholders.

Sevilla explained that these 2.5 billion will be distributed in several ways. Firstly, through ordinary dividends and, secondly, through the generated excess capital above 12% CET1 fully loaded.

In 2018, this excess capital and the undistributed dividend reached 548 million euros, while the payment to shareholders via ordinary dividend was 357 million euros, 5% higher than the previous year.

As a result, capital generation reached 1.17 billion euros at the end of the first quarter, although the regulatory impact (TRIME and IFRS16) subtracted 265 million euros, placing the generated capital figure at 905 million euros .

However, the CEO of the bank has assured that this impact "will be reduced in the coming quarters and we will not have great negative effects for this year or for 2020".

On the other hand, Sevilla highlighted the commercial dynamism of the start of the financial year and the benefits of the integration of BMN, which have made it possible to advance the capture of the initially expected cost synergies over time.

Finally, he highlighted the effort made by the bank to reduce non-performing assets "well above the targets we set for ourselves", which will reach around 8 billion by the end of 2020, from almost 17 billion in December 2017.

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