スペインの国有化されたBankiaの資本評価額はー41億4800万0000ユーロの損失で、その母体のBFA銀行の資産評価額はー104億4400万0000ユーロの損失
REFORMA FINANCIERA
El FROB otorga a BFA-Bankia un valor negativo de 10.444 millones
El valor patrimonial negativo de Bankia asciende a 4.148 millones de euros
EFE Economía Madrid 26 DIC 2012 - 20:09 CET
FINANCIAL REFORM
The FROB BFA-Bankia gives a negative value of 10,444,000
The Bankia negative equity amounts to EUR 4.148 million
Economy Madrid EFE 26 DIC 2012 - 20:09 CET
The FROB has determined that Bankia has a negative value of 4.148 million euros, a situation that could jeopardize the investment of the 350,000 small shareholders who bought titles during its IPO. In a statement released today, the Fund for Orderly Bank Restructuring (FROB) states that the matrix of Bankia, BFA, has turn a negative equity of 10.444 million, down from the 13,000 that was estimated earlier this year.
With this assessment on the table, the BFA-Bankia group prepares to receive before year-end injection of public funds amounting to nearly 18,000 million, which will allow you to be recapitalised by the end of the year, as the commitment to establishing Brussels. Early next year, Bankia undertake a capital reduction in order to restore the balance between capital and equity.
The BFA-Bankia group prepares to receive before year-end injection of public funds amounting to nearly 18,000 million
This reduction will affect the value of the stock, which is currently at 0.68 euros, and therefore the investment they made about 350,000 shareholders who attended the IPO, and paid 3.75 euros per share. As the statement of the FROB, "thus safeguarding the principles" set out in the legislation and demanded that "shareholders are the first to bear losses and restructuring costs."
Among investors there was some fear that the share value would be reduced to zero, although it seems that eventually will leave a residual value to action, according to financial sources. The FROB has taken a similar measure, for example, in Banco de Valencia, where he was a residual group of traditional shareholders of the entity, including Valencian businessmen.
According decided today, the Bank of Valencia will be a reduction of capital to absorb losses aggressive, from 0.20 to 0.01 euros per share, but will not scratch. In the case of NCG Banco de Catalunya Banc and the capital itself will be reduced to zero, which will mean the full repayment of current actions, says the FROB in the statement.
Regarding BFA-Bankia, the recapitalization process will involve several steps. First, the FROB immediately undertake a capital increase in BFA, the matrix of Bankia, amounting to 13.459 million euros, with money from the European Commission through the ESM (European Stability Mechanism). This injection is added to the 4,500 million in September ahead of the Treasury through issuance of letters, and now will also exchanged for securities of the ESM.
Since Brussels forcing the nationalized banks to recapitalize before the end of the year, and the impossibility of Bankia rush a capital in a few days, the FROB has devised an alternative mechanism to meet EU requirements. So, before December 31, Bankia will issue contingent convertible bonds (CoCos, in financial jargon) amounting to 10,700 million euros, to be signed by their parent. Coinciding with the capital reduction, and early next year, will be converted into ordinary shares CoCos.
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