Arab Today, arab today bankia to close 1100 branches in spain in restructuring
Last Updated : GMT 08:53:10
Arab Today, arab today
Arab Today, arab today

Bankia to close 1,100 branches in Spain in restructuring

Arab Today, arab today

Arab Today, arab today Bankia to close 1,100 branches in Spain in restructuring

Madrid - XINHUA

The fourth largest bank in Spain, BFA/Bankia, will close about 1,100 branches as a part of its restructuring plan, the bank said Wednesday. The restructuring is required by the European Union (EU) in order for Spanish banks to get the 37 billion euros (about 48 billion U.S. dollars) in an aid package. Bankia will also transfer 57.2 billion euros to the "bad bank" created to hold toxic assets caused by the collapse of the Spanish property market and lay off 6,000 workers. The number of employees at Bankia will fall from 20,589 workers to around 14,500, while there will be around 2,000 branches as opposed to 3,117 now. Bankia President Ignacio Goirigolzarri said these changes were necessary in order to guarantee its viability. "Dismissals will be less than 6,000," the president told a press conference. Some of the job losses will be through voluntary redundancy or early retirement. Of the total 37 billion euros of financial assistance provided by the EU, Bankia will receive 18 billion euros. Besides Bankia, Catalunya Banc will receive 9 billion euros, NCG Banco 5.5 billion euros and Banco de Valencia 4.5 billion euros. Combined with previous aid from the Spanish government, Bankia will receive about 36 billion euros in total. BFA/Bankia was created in 2010 as a result of a merger between Caja Madrid and other five smaller savings banks. 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bankia to close 1100 branches in spain in restructuring Arab Today, arab today bankia to close 1100 branches in spain in restructuring

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bankia to close 1100 branches in spain in restructuring Arab Today, arab today bankia to close 1100 branches in spain in restructuring

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday