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Results 1Q 2020

Results

29 April 2020

Bankia posts attributable profit of 94 million euros through March, after provisioning for COVID-19

  • Comfortable liquidity position and strong capital allow the bank to set aside an extraordinary provision of 125 million euros
  • Bankia chairman José Ignacio Goirigolzarri: “This decision to accelerate provisioning leaves us well prepared to respond quickly and effectively to the financial needs of households and businesses in such a complex situation as the one they are now facing”
  • CEO José Sevilla: “Until the health crisis arrived in March, Bankia's commercial activity was showing healthy momentum in the key metrics, combined with a high-quality balance sheet”
  • Bankia has received over 19,400 applications for mortgage moratoria and 14,100 for consumer loans
  • The bank is processing business applications for solutions guaranteed by Spain's Official Credit Institute (ICO) worth some 7,320 million euros in loans and credit accounts
  • Gross loans and advances to customers closed the first quarter at 121,029 million euros, 0.3% higher than at year-end 2019. Stripping out non-performing loans and reverse repos, gross loans and advances to customers were up by 0.4%.
  • The non-performing loan (NPL) ratio improved to 4.9% and the NPL coverage ratio reached 55.3%, 1.3 points above the level recorded the previous quarter
  • The net volume of non-performing assets (non-performing exposures and foreclosed assets) declined 136 million euros (-3.2%), trimming the NPA ratio (as measured against total exposures) for the group to 3.2%
  • Gross income rose to 823 million (+1.1%), lifted by higher revenue from sales of fixed-income portfolio sales and strong increases in fees and commissions (+9%)

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  • Infographic Results 1Q 2020 Bankia
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Multimedia

  • Bankia's CEO, José Sevilla, and Bankia's Deputy General Director of Financial Management.
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  • Bankia 1Q 2020 results presentation
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  • Bankia's CEO, José Sevilla.
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  • Bankia's Deputy General Director of Financial Management, Leopoldo Alvear; Bankia's CEO, José Sevilla; and General Director of Communication and External Relations Bankia's, Amalia Blanco.
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  • Bankia's Deputy General Director of Financial Management, Leopoldo Alvear; Bankia's CEO, José Sevilla; and General Director of Communication and External Relations Bankia's, Amalia Blanco.
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