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Bankia was founded in July 2010 when seven savings banks —Caja Madrid, Bancaja, Caja Canarias, Caja Ávila, Caixa Laietana, Caja Segovia y Caja Rioja— combined into an Institutional Protection Scheme (IPS).

Under those initials the new merged group integrated its organisation and management, acting as a single entity for accounting and regulatory purposes.

On 3 December 2010, Banco Financiero y de Ahorros was created and gave rise months later to Bankia, the trade name of the bank formed from the merger of the seven former 'cajas'. After its initial public offering, in July 2011, in the midst of a deep economic recession, the Fund for Orderly Bank Restructuring (FROB) nationalised 100% of the Bank, which as from 2012 was headed by José Ignacio Goirigolzarri.

“A project with extraordinary future”

“A project with extraordinary future”. That is how Goirigolzarri described Bankia when he took over as chairman of its board of directors. An early milestone in this new phase was the appointment of a new board of directors and of a renovated management team, which in November 2012 approved a 3-year strategic plan focused on improving the bank's solvency, efficiency and profitability.

Those objectives were presented the same day as the European Commission approved the restructuring plan for the bank, which imposed stringent conditions in exchange for the disbursement of European Union aid. On 1 February 2016 Bankia declared that its strategic plan had been successfully completed, two years in advance of the requirements set by Brussels, notwithstanding the complicated macroeconomic environment.

In 2017 Bankia put an end to its restructuring and embarked on a new growth story. The end of the last restrictions placed by the European Commission came at the same time as the merger of Bankia and BMN was executed, giving rise to Spain's fourth largest banking group.

In this new environment, Bankia unveiled its new strategic plan in February 2018, with the firm purpose of becoming the best bank in Spain, leader in efficiency, solvency and profitability.

Headquarters in Madrid and Valencia

Bankia's registered office is located in Valencia (at Calle del Pintor Sorolla, 8), and its operating headquarters is in Madrid (Paseo de la Castellana, 189).

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