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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 : will raise its highest quality capital to 14.87% after the ECB has approved the internal risk models of the mortgage portfolio

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09/23/2020 | 09:20am EDT
  • Risk-weighted assets (RWAs) are reduced by 8,250 million, with an impact of improvement in the bank's capital ratio of 160 basis points

The European Central Bank (ECB) has finally approved the internal credit risk calculation models of Bankia's retail mortgage portfolio (IRB), which will allow the bank to raise its fully loaded CET 1 capital ratio to 14.87 %. The Group thus consolidates its leading position in capital among the large Spanish banks.

As reported by the entity to the National Securities Market Commission (CNMV), with the approval of these models, requested in October 2018 and whose resolution was expected throughout the third quarter of the year as the market already knew and deducted, Bankia may increase its maximum quality capital by up to 160 basis points.

The activation of these models was one of the levers contemplated in Bankia's 2018-2020 Strategic Plan with the aim of continuing to strengthen the entity's capital ratio.

The authorisation will allow Bankia to deploy this methodology during the third quarter of this year to the retail mortgages portfolio originating in the Bankia perimeter, prior to the merger with BMN. The application of these models will represent a reduction in risk-weighted assets (RWAs) of around 5,970 million euros.

In parallel, the bank expects to extend the application of these same parameters to the retail mortgages portfolio originating in BMN's operations perimeter during the fourth quarter of this year, with estimated savings in RWA of 2,280 million euros.

Thus, Bankia may reduce its RWAs by a combined amount of around 8,250 million euros, which represents a positive impact on capital of 112 basis points for the Bankia perimeter and 48 basis points for the BMN perimeter.

At the close of the first semester, Bankia reached a fully loaded CET1 ratio of 13.27% and a CET1 phase in of 14.32%.

Disclaimer

Bankia SA published this content on 15 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 September 2020 12:19:00 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 17,2x
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 1,06 €
Spread / Highest target 78,7%
Spread / Average Target 23,6%
Spread / Lowest Target -34,2%
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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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