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MarketScreener Homepage  >  Equities  >  Bolsas y Mercados Espanoles  >  Bankia, S.A.    BKIA   ES0113307062

BANKIA, S.A.

(BKIA)
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Bankia S A : grants loans to companies in Castilla y León in worth 503 million euros until June to mitigate the impact of Covid-19

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08/14/2020 | 05:13am EDT
  • A total of 262 million were granted in loans either fully or partly endorsed by the ICO, in 1,480 transactions
  • In In addition, Bankia granted 990 mortgage moratoriums and 1,680 consumer loans to Castilla y León's families for a combined amount of 92 million euros

Bankia granted loans worth 503 million euros to companies in Castilla y León during the first six months of the year in 2,960 transactions, to help them through the economic consequences of Covid-19.

Of this amount, 262 million euros were paid out as loans with partial ICO backing in almost 1,480 transactions. A total of the total amount guaranteed by the official body is 204 million, accounting for 77%.

As well as the guaranteed transactions, Bankia launched its own solutions to help the business community in Castilla y León. Through these and other initiatives, the bank succeeded in increasing loans to companies in the area by an additional 241 million euros during the first half of the year.

Help for families in Castilla y León

When it comes to families, Bankia has granted 2,670 moratoriums (including those established in the Royal Decree and the proprietary solutions implemented by the entity) for an amount of 92 million euros.

Of these, 990 were mortgage deferrals, while close to 1,680 were moratoriums on consumer loans.

The total value of these moratoriums is 82 million euros, while consumer loan deferrals are worth almost 10 million.

The corporate area manager of Bankia in Castilla y León, Lola Peñas, said that 'from the outset, Bankia wanted to help solve the financial problems of families and companies caused by the economic crisis, so that this would have the smallest possible impact'.

Likewise, Bankia's North Business Corporate Manager, Belén Martín, said that companies are the most important link in the chain when it comes to getting people out of the economic crisis as quickly as possible, adding that the bank has renewed all the lines of credit falling due until the end of June. It is also processing loans with ICO backing and reviewing companies' financial situation on request to be able to cover their needs.

Nationwide financing

In terms of the Spanish market, the bank has managed ICO-backed loans worth 7.45 billion euros, accounting for 18% of total credit to companies granted during the first six months of the year.

Since the beginning of the crisis, Bankia has granted Spanish families around 4,080 million euros in mortgage loans in more than 40,200 transactions. Moratoriums on consumer loans equal 330 million euros with 51,500 transactions.

Disclaimer

Bankia SA published this content on 06 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 August 2020 08:12:23 UTC


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Financials
Sales 2020 3 030 M 3 528 M 3 528 M
Net income 2020 135 M 158 M 158 M
Net Debt 2020 - - -
P/E ratio 2020 17,0x
Yield 2020 0,09%
Capitalization 3 196 M 3 724 M 3 721 M
Capi. / Sales 2020 1,05x
Capi. / Sales 2021 1,05x
Nbr of Employees 15 947
Free-Float 37,2%
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Mean consensus HOLD
Number of Analysts 20
Average target price 1,31 €
Last Close Price 1,05 €
Spread / Highest target 80,6%
Spread / Average Target 25,0%
Spread / Lowest Target -33,5%
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Managers
NameTitle
José Sevilla Álvarez Chief Executive Officer & Executive Director
José Ignacio Goirigolzarri Tellaeche Executive Chairman
Antonio Ortega Parra Executive Director, GM-People & Resources
Jorge Cosmen Menéndez-Castañedo Independent Non-Executive Director
Joaquín Ayuso García Independent Director
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