The head of the troubled Spanish bank, Bankia, has insisted that if the lender receives the 19 billion euros it asked for on Friday, it would not need any further funds to continue as a solid business.
At a conference in Madrid, the bank’s chief executive, Jose Ignacio Goirigolzarri also promised greater transparency shortly after announcing huge losses.
“We understand this group will not need any additional provisions; no additional money,” he said.
“We think with this we can make a financially solid entity that, together with the number of clients we have, will allow us to be optimistic and trust in the development of a solvent, efficient and profitable entity.”
The call for financial aid shortly follows the downgrade by Standard & Poor’s of Bankia and four other Spanish banks to junk status on Friday.
The banks were downgraded due to their high exposure to the country’s collapsed real estate bubble.
The banks all hold large amounts of soured investments, such as defaulted mortgage loans or devalued property. Bankia, the worst hit, holds 32 billion euros of these so-called ‘toxic assets.’
- 1Obama denounces Russia’s ‘increasingly aggressive posture’ on Ukraine
- 2Chancellor Merkel heads Forbes most powerful women list – again!
- 3Bunny beaten to death live on Danish radio
- 4‘Rampant corruption’ US orders arrest of senior Fifa executives
- 5Swiss police arrest several senior Fifa executives in a morning raid at a five-star hotel in Zurich
- 1Snowden, Assange and Manning statues unveiled in Berlin | euronews, world news
- 2Chomsky says US is world’s biggest terrorist | euronews, the global conversation
- 3euronews live TV - News | euronews : the latest international news as video on demand
- 4Nepal: ‘equally big earthquakes coming in eastern regions,’ expert tells euronews | euronews, world news
- 5It’s a girl: Britain’s Duchess of Cambridge gives birth in London | euronews, world news
- 6How Nepal earthquake devastated Kathmandu’s UNESCO heritage | euronews, world news
- 7Chernobyl Children: what makes Ukrainians born in 1986 different? | euronews, world news
- 8Juncker to Hungarian PM Orban: “Hello, Dictator!”
- 9Evidence of ancient wine found in Georgia a vintage quaffed some 6,000 years BC
- 10Exclusive: unrest in FYR Macedonia could hit other Balkan countries warns Serbian PM | euronews, world news
- 11International tv news | euronews: European and International tv news bulletin
- 12International breaking news | euronews online world breaking news in video
- 13Andrea Ferrari: the graphene guru | euronews, science
- 14Portuguese language reform law goes global | euronews, world news
- 15EU membership remains Serbia’s priority, says PM Aleksandar Vucic | euronews, the global conversation
- 16Spanish voters punish mainstream parties in local and regional elections
- 17Spain: the viral soldiers fighting in Madrid and Barcelona mayoral races | euronews, world news
- 18Watch: France’s Jean-Marie Le Pen clashes with UKIP MEP Woolfe | euronews, world news
- 19How young translators are helping knit European culture together | euronews, generation y
- 20Recharging without cables: the road ahead for electric cars
Wires > News
- 17:37 CET World football rocked as top officials held in U.S., Swiss graft…
- 17:23 CET South Sudan hunger at its worst since independence in 2011 -…
- 17:19 CET Islamic State shoots dead 20 in Palmyra amphitheatre – monitor
- 17:00 CET Blair to step down as Middle East envoy -diplomatic sources
- 16:56 CET Number of hungry people worldwide drops below 800 million – U.N.
- 16:55 CET Desperate migrant pays for baby to be drugged, smuggled to Myanmar…
- 16:54 CET Woman accused of witchcraft axed to death in PNG – missionary
- 16:47 CET Germany no closer to legalising same-sex marriages