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Carlos Egea resigns his executive functions at Bankia after successfully completing the BMN integration process

Egea will continue to form part of the Board of Directors of Bankia as an external director with "total willingness, commitment and enthusiasm".
 

Communication Bankia

By  Communication Bankia

Publish on 
27 March 2019 - 09:30

  • Egea has informed the Board that it is time for his contribution to the project to come from a non-executive stance
  • Since joining Bankia in early 2018, his dedication has been to “provide direct support to all the demands and requirements that have been raised in relation to the integration process”

Carlos Egea resigns his executive functions at Bankia after “successfully completing” the BMN integration process. “I have dedicated my time and effort to contribute to the success of this integration process between Bankia and BMN”, said Egea, who added that once the operation is over “it will be time for my contribution to the project to come from a non-executive position”.

Egea has expressed to the Board that, since joining Bankia in early 2018, his dedication has been in the form of “direct support to all the demands and requirements that have arisen in relation to the integration process”, a merger “achieved in record time that has meant an evident improvement in the quantity and quality of the services provided to our customers”.

For Egea, “obtaining synergies and economies of scale, a dimension more suited to market demands and a more balanced regional presence are some of the positive consequences of this integration, which mark the present and future of Bankia”.

Carlos Egea continues to be a member of the Board of Directors of Bankia as an external director. In this regard, has ratified his “total willingness, commitment and enthusiasm to continue complying with the obligations inherent to a director”.

Therefore, the number of members of the Board of Bankia remains at 12, three of which are executive, eight independent and one external.

Egea's profile

Egea “personally” thanked the chairman of Bankia, as well as the members of the Board and the governing bodies, for the “support and help” provided.

Born in 1947, he is an Industrial Engineer from the School of Industrial Engineering of Madrid and holds a PhD in Economic and Business Sciences from the Autonomous University of Madrid.

He was vice chairman of Ahorro Corporación, member of the board of directors of Caser, Enagás and Iberdrola Renovables, and Secretary of the Board of Directors of the Spanish Confederation of Savings Banks (CECA).

He began his career in the industrial sector, and from there he switched to the financial sector through Banco Atlántico. In 1976 he joined the Caja de Ahorros de Murcia, and in 1983 was appointed managing director of this institution. In 2008, he was appointed chairman of the same. Since 2010 and until its merger with Bankia, he has been chairman of the board of directors of BMN.

Since June 2008, he has been chairman of the Caja Murcia Foundation, where he had previously been vice president since its creation in 2001.

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After assuming the mortgage expenses

Bankia markets the mortgage without charges or fees

The entity does not require the hiring of any additional product linked to the granting of the loan, with the exception of domiciling the payroll in Bankia.

Communication Bankia

By  Communication Bankia

Publish on 
29 March 2019 - 11:45

  • In addition, you do not need to contract any additional products to benefit from these conditions. The only requirement is the direct deposit of your payroll in the entity
  • To reinforce its offer, Bankia launches the campaign ‘The mortgage with the largest fine print in the world’
  • “Generally, a mortgage is one of the most important decisions of our lives, which is why we want to offer financing with clear and simple conditions, with transparency and without any fine print”, comments Bankia’s Deputy General Director of Retail Banking, Eugenio Solla
  • The price of Bankia mortgages ranges from an annual Euribor interest rate of plus 0.99% in the case of variable rate mortgages, and of 1.70% for a ten-year period in the case of fixed rate mortgages

Bankia has decided to assume the mortgage expenses as from now. With this initiative, it becomes the only entity with a large number of branches that markets a mortgage free of charge, without fees and, in addition, without requiring the purchase of additional products in order to benefit from these conditions. The only requirement is the direct deposit of the customer’s payroll with the institution.

“Generally, a mortgage is one of the most important decisions of our lives, which is why we want to offer financing with clear and simple conditions”, says Eugenio Solla, Deputy General Director of Retail Banking at Bankia. “Anyone who applies for a mortgage at Bankia will only repay the loan and pertinent interest. It's as simple as that, transparent, with no fine print”, he points out.

The price of Bankia mortgages ranges from an annual Euribor interest rate of plus 0.99% in the case of variable rate mortgages, and of 1.70% for a ten-year period in the case of fixed rate mortgages.

In addition, this product does not require contracting any additional products linked to the loan. “This point is very important in our offer, as it provides us with a differential position”, says Solla. In addition, for new mortgages contracted with Bankia, the institution will bear the notary fees, registration fees, management fees, as well as the Stamp Duty Tax, ahead of the new Real Estate Credit Law, which will come into force next June.

Likewise, these loans will not encumber any opening or redemption fee, whether partial or total.

Therefore, a 30-year, variable-rate mortgage would be 1.27% APR, which includes, in addition to the nominal rate, all associated expenses.

The only requirement to be eligible for these conditions is the direct deposit of the customer’s payroll with the institution.

Mortgage and real estate simulator

Bankia complements its financing offer for the purchase of a home with two free online simulators, which allow the user, whether or not a customer of the institution, to make unlimited inquiries.

The first of these is the mortgage simulator, in which, by entering some basic details, the user has access to information about the amount that can be financed, the monthly instalments to be paid or how the amount would vary depending on the performance of the Euribor.

The second tool is the property appraiser, which calculates, in a matter of seconds, the market price of any home, both for purchase and rental, simply by entering the location details of the same.

‘The largest fine print in the world’ campaign

Bankia has launched a campaign to raise awareness of these initiatives, in which it focuses on transparency in mortgage conditions and the absence of fine print.

“In such a complex scenario, with numerous regulatory changes, it is essential to provide customers with clear and transparent information. In this campaign, we want to capture both the highly competitive product conditions and Bankia’s commitment to transparency”, says Silvia Bajo, Bankia’s Brand Corporate Director.

The campaign shows a mortgage with such clear conditions, that it has ‘the largest fine print in the world’.

Bankia started 2019 with great commercial strength, which is allowing the bank to increase its concession of new financing for families and businesses. This is reflected by the fact that during the first two months of the year, a total of 470 million euros was granted in new financing for the purchase of a home, which is up by 15% on the same period last year. During 2018, the bank formalised mortgages for a volume of 2,928 million euros, up 6%.

In this way, the entity continues to make progress in achieving the objectives set out in the 2018-2020 Strategic Plan related to the mortgage business, which foresee a market share increase of 351 basis points in formalisations during the period, to 10.8%. Bankia ended last November with a share of 8.12%.

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Bankia Pays 2018 Dividend and Repays a Further €219 Million to Spanish State

This is the fifth dividend paid in Bankia's history and the Bank continues repaying the aid received and has now returned 3,083 million euros.

Communication Bankia

By  Communication Bankia

Publish on 
11 April 2019 - 09:15

  • The Annual General Shareholders' Meeting of this past 22 March approved a dividend distribution of 357 million euros, 5% higher
  • The Bank continues repaying the aid received and has now returned 3,083 million euros

Bankia is paying out an ordinary dividend against 2018 earnings of 11.576 euro cents per share in a single cash payment. This marks a further advance in the Bank's repayment of the State aid received, as the Spanish national government will receive €219 million of this dividend.

This past 22 March, the Annual General Meeting of the Bank's shareholders approved a dividend distribution of 357 million euros, 5% more than the previous year's pay-out.

This is the fifth dividend paid in Bankia's history. Since July 2015, when the Bank made its first pay-out to shareholders, the cumulative dividends distributed total 1,517 million euros.

At present, the FROB holds, directly and indirectly through BFA Tenedora de Acciones SAU, an equity stake of 61.4% in Bankia.

Based on that shareholding, the Bank is now returning a further 219 million euros to taxpayers with the 2018 dividend, bringing the total repaid to 3,083 million euros.

Of those 3,083 million euros, a total of 2,122 million euros were generated by the privatisation transactions carried out in February 2014 and December 2017, and the remaining 961 million euros are in respect of dividends paid to the FROB (128 million against 2014 earnings; 195 for 2015; 211 for 2016; 208 for 2017 and 219 million for 2018).

The Bankia Strategic Plan 2018-2020 envisages distributing more than 2,500 million euros to shareholders in ordinary dividends and refunding its capital in excess of the 12% CET1 fully loaded threshold.

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The president of Bankia, José Ignacio Goirigolzarri, during his inaugural speech at Forinvest in Valencia.

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At the inaugural speech of Forinvest in Valencia

Goirigolzarri: "Our goal is to turn Bankia into the preferred bank in Spain"

To achieve this, Bankia has "customer satisfaction, an excellent corporate governance, a permanent vocation of service to society and absolute respect for our principles and values".

Communication Bankia

By  Communication Bankia

Publish on 
05 March 2019 - 13:30

  • The president of Bankia highlighted, at the main financial forum of the country, the importance of customer satisfaction, the permanent vocation of service to society, excellent corporate governance and the "absolute respect for principles and values" required to achieve this goal
  • Goirigolzarri claimed that "we must be aware of and deal with" the reputation of banking and argued that "Bankia is possibly the best example of the recovery of the financial system"
  • "Valencia is our home, we were born here and here we have our headquarters since the beginning" he said.

The president of Bankia, José Ignacio Goirigolzarri, has assured that the objective of the financial institution is "to be the preferred bank in Spain" and that, to achieve this, Bankia has "customer satisfaction, an excellent corporate governance, a permanent vocation of service to society and absolute respect for our principles and values".

Goirigolzarri has inaugurated the twelfth edition of the Forinvest fair, which is being held today and tomorrow at the Valencia Fair, with a conference entitled 'Bankia against the challenges of the financial system'.

"In the main financial forum of our country", he pointed out that, strategically, the companies that overcome the challenges of the future will be those that "give a high quality response in virtual relations with their customers, promoting digital practices to protect data privacy” and that, at the same time, are capable of "accommodating their traditional distribution network so that it complements a multi-channel approach and is a source of competitive advantages".

The great challenges of the financial sector

The president of Bankia underlined in the course of his speech that "the two great challenges" of the Spanish economy in the medium and long term are the high level of unemployment and the level of public debt.

In addition, he pointed out that the financial industry faces three major challenges: reputation, profitability and the strategic challenge derived from the change of habits of its customers due to the emergence of new technologies.

With regard to reputation, Goirigolzarri stressed that "the financial system is key to the future of society" and has admitted that, in 2012, it was the main economic problem in Spain, but that it has carried out "a very significant restructuring and transformation process". "While it is true that the bailout received made it solvent and guaranteed the safety of the customers and the system, it was not a guarantee of its viability in the long term", he pointed out.

"The savings of the depositors were rescued, but the bank, employees and shareholders have undergone a profound restructuring process", he explained, assuring that "it has led it to a 40% decrease in offices and a similar decrease in workforce, about 80,000 people". In this regard, Goirigolzarri argued that "Bankia is possibly the best example of the recovery of the financial system".

The president of Bankia stressed that he has "always" considered reputation to be "highly important". "We must not only be aware of, but also deal with what society is asking of us because it is evident that society is very disappointed with the operation of the financial system during the crisis", he acknowledged.

On the opening day of Forinvest, Goirigolzarri stressed the importance of having "excellent corporate governance practices" and insisted that "the sustainability of a project lies in society finding it useful" and "wanting us to exist".

In addition, the president of Bankia has mentioned profitability as one of the great challenges faced by the financial industry. "Without adequate profitability, which must be higher than the capital cost, the bank will be unable to attract investors and, therefore, finance the economy", he warned, and mentioned negative interest rates as a cause of low profitability along with the continuous deleveraging of families and businesses.

Lastly, Goirigolzarri pointed out that banking faces a "very important" strategic challenge derived from the change in customers' habits and that "it is boosted by a technological revolution".

However, he stated that he sees this technological change "as a great opportunity" and not "as a great threat" along with the fact that there are new competitors due to the rise of new technologies. "Technology is a weapon that should allow us to improve service to our customers," he remarked.

Bankia Fintech by Innsomnia in Valencia

Goirigolzarri pointed out that Bankia's strategy regarding new competitors is "collaboration and alliance" and that, for this reason, it created Bankia Fintech by Innsomnia in La Marina de Valencia, with the aim of incubating and accelerating national and international startups. He explained that, in two and a half years, it has received more than 300 startup applications from which the entity has selected 47, with 60% of which it has signed a collaboration agreement.

The president of Bankia also stressed that Valencia is "a very important region" for the entity. "It's our home, we were born here as a bank, and here we have our headquarters since the beginning", he said, and highlighted its "great importance from a business perspective."

In this line, he acknowledged that the fact of having 1.6 million Valencian customers, more than 60,000 companies working with the entity in the Community of Valencia and having a 19% market share in the province of Valencia entails a "great responsibility".

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New organisation of the bank

Bankia announces its new organisation in the three regional divisions of the Community of Madrid

This new structure also affects the Business Management Center Business, which includes the business in the Community of Madrid and Castilla-La Mancha and in front of which will be Faustino Ortiz.
 

Communication Bankia

By  Communication Bankia

Publish on 
24 February 2019 - 11:30

  • The private customer business of the Madrid North Regional Division is now managed by Juan Luis Vidal, replacing Eugenio Solla, who has joined the Steering Committee as director of Private Banking
  • The Madrid South West Regional division is now managed by Julio Martín, replacing David López, new member of the Steering Committee as director of People and Culture
  • Juan Antonio Zaragoza is the new director of the Madrid East Regional Division, replacing Faustino Ortiz who returns to the Centre Business Management

Bankia has announced its new organisation for the private customer business of the three regional divisions of the Community of Madrid. The financial entity has appointed Juan Luis Vidal as corporate director of the Madrid North Regional Division; Julio Martín as corporate director of Madrid South West Regional Division, and Juan Antonio Zaragoza as corporate director of Madrid East Regional Division.

In the Madrid North Regional Division, Juan Luis Vidal (Cartagena, Murcia, 1969), who was the Centre Company Business Director until now, replaces Eugenio Solla, who joins the Steering Committee as director of Private Banking.

Juan Luis Vidal, Bachelor of Economics and Business Administration by the University of Alcalá de Henares (CEU), holds a Master's Degree in Business Management from the Francisco de Vitoria University, a Master's Degree in Accounting Auditing from the Autonomous University of Madrid and has completed the Senior Management Program of the Business Institute.

Vidal, who began his professional career at Bankia in 1994, has also been corporate director of SMEs, corporate director of Multichannel and corporate director of North Company Business.

The Madrid South West Regional Division will be managed by Julio Martín (Madrid, 1973) as a replacement for David López, a new member of the Steering Committee as director of People and Culture.

Julio Martín has a degree in Business Administration and Management from the University of Sunderland (England), an MBA in Business Administration from the Autonomous University of Madrid and has completed the Senior Management Program of the IE Business School Institute.

Martín has developed his entire professional career at Bankia. Since 2012 he has been the corporate director of Bankia's North Regional Division, based in Logroño, which includes private customer business in La Rioja, the Basque Country, Aragon, Navarre, Galicia, the Principality of Asturias and Cantabria and which is now headed by Begoña Hernández.

The new director of the Madrid East Regional Division is Juan Antonio Zaragoza (Málaga, 1965), a position previously held by Faustino Ortiz, who returns to the Centre Company Business Management.

Juan Antonio Zaragoza, an attorney and Business advisor from ICADE who holds an MBA from the Business Institute and has studied at Harvard University (USA), was Director of Corporate Banking at Bankia.

Zaragoza joined the Caja de Ahorros de Murcia in 2000 and held positions of responsibility in the entity and, subsequently, in BMN.

Centre Company Business Management

The new structure of Bankia also affects the Centre Company Business Management, which encompasses the business in the Community of Madrid and Castilla-La Mancha and in managed by Faustino Ortiz, replacing Juan Luis Vidal, who will now manage the Madrid North Regional Division.

Faustino Ortiz (Madrid, 1966) holds a degree in Statistics from the Complutense University of Madrid and a master's degree in Banking Management from the Autonomous University of Madrid.

Linked to Bankia since 1988 after his time at BNP Spain, he has been a corporate director since 2014, serving as Director of North Company Business and Centre Company Business between 2015 and 2017, and director of the Madrid East Regional Division.

Twelve Members of the Steering Committee

The appointments of Vidal, Martín and Zaragoza take place within the structural renovation announced by Bankia to support the transformation of the bank and brings the number of members of its Management Committee to twelve.

Bankia's Board of Directors approved a change in the bank's corporate structure to support the transformation of the bank and its business. The financial entity has created four new general divisions -Financial, Credit Risks, People and Culture, and Transformation and Digital Strategy- and its directors are now part of the Management Committee. Therefore, the bank's highest management body will be comprised of twelve members instead of the eight it had until now.

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Virginia Zafra de Llera
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vzafra@bankia.com

 

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DIRECTOR OF PRESS RELATIONSHIP
gfernandezm@bankia.com

Mariano Utrilla Cortijo
mutrilla@bankia.com

Irene Rivas García
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Belén Porras Povedano
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mcamposla@bankia.com

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DIRECTOR OF DIGITAL COMMUNICATION
abernad@bankia.com

Leticia Lucio Álvarez
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