Jump Main Menu. Go directly to the main content

Sección de idiomas

Englishen

Fin de la sección de idiomas

You are in:

  1. Home
  2. Communication
  3. News

News

Start of main content

Leopoldo Alvear, Bankia's chief financial officer.

Corporate information

At Bankia’s Second Meeting with Retail Shareholders

Leopoldo Alvear: "Bankia continues to generate capital organically, which allows us to maintain leadership among large banks"

The CFO takes stock of the bank's situation and indicates that "Bankia’s future project is customer-centric and making progress in the digital transformation process".

Communication Bankia

By  Communication Bankia

Publish on 
12 December 2019 - 12:30

  • The bank has generated close to 1.3 billion euros in capital since the start of the Strategic Plan until September 2019
  • Bankia has distributed more than 1.5 billion cash dividends in the last five years
  • Bankia has managed to reduce its non-performing assets by 7.3 billion euros since the start of the 2018-2020 Strategic Plan

Bankia's chief financial officer, Leopoldo Alvear, has stated that the entity continues to generate capital organically quarter after quarter, which makes the bank the most solid in terms of capital among the large Spanish banks.

This was stated by Leopoldo Alvear during Bankia’s Second Meeting with Retail Shareholders, held in Madrid, in which he underlined that "Bankia’s future project is customer-centric and making progress in the digital transformation process".

The financial director of Bankia stressed that the bank has an important capacity to generate capital organically. Thus, from the start of the Strategic Plan and until the end of September, nearly 1.3 billion euros have been generated.

Not only have we increased our customer base, but we have also improved their level of satisfaction and their relationship with us.

Leopoldo Alvear
Bankia's chief financial officer

In this regard, the bank's executive has underlined that Bankia maintains a clear leadership position in terms of capital with respect to large Spanish financial institutions.

The bank manager has stated that Bankia is committed to generating excess capital over 12% fully loaded and distributing 2.5 billion euros among its shareholders until 2020.

Regarding the evolution of the shares, Alvear explained that "it includes macroeconomic and geopolitical uncertainty". The geopolitical tension between the United States and China, the ECB's latest intervention that keeps rates fixed, the yield on debt bonds at record lows and lower credit volumes are some of the factors that have an impact on the performance of shares.

Alvear has acknowledged that the delay in the rise of interest rates and the lower growth in expected credit are variables that affect the margin of interest and turnover of the entities.

Reduction of non-performing assets

The reduction of non-performing assets is another of the bank’s strategic lines. Alvear stressed that in 2018 alone the reduction of NPAs reached 6 billion euros, more than double the initially planned target. And, in 2019, this trend of reduction of non-performing assets is continuing and goes beyond 7.3 billion since the start of the plan.

On the commercial side, Alvear has highlighted an increase in customers by over 165,000 last year. "Not only have we increased our customer base, but we have also improved their level of satisfaction and their relationship with us”, he said.

In addition, the bank has managed to consistently raise its market shares in consumption, companies, and value-added products, such as investment funds, new production insurance premiums or card billing and payment methods.

Share

Print and/or download the new

Read more about these topics

#Shareholders

Related news

Loading...
Loading next new

Newsletter

Subscription to the bulletin of Bankia News

CONTACT

External Communication Direction

Virginia Zafra de Llera
DIRECTOR OF EXTERNAL COMMUNICATION
vzafra@bankia.com

 

Press Relationship

Guillermo Fernández Martín
DIRECTOR OF PRESS RELATIONSHIP
gfernandezm@bankia.com

Mariano Utrilla Cortijo
mutrilla@bankia.com

Irene Rivas García
irivas@bankia.com

Belén Porras Povedano
bporras@bankia.com

María Campos Lages
mcamposla@bankia.com

María José Cabeza Calderón
jcabeza@bankia.com

 

Digital Communication

Ana Bernad Colás
DIRECTOR OF DIGITAL COMMUNICATION
abernad@bankia.com

Leticia Lucio Álvarez
llucio@bankia.com

María Navarro Caballero
mnavarro@bankia.com

   

End of main content