SHARES in Spain’s Bankia have been suspended amid speculation it is on the verge of requesting a €15 billion bailout from the government.
A board meeting on Friday afternoon has been called in an effort to confirm plans to secure the finances of Spain’s fourth-largest bank.
It comes just two weeks after the lender was partially nationalised when €4.5 billion in government loans were converted into bonds.
The bank is struggling with €32 billion of loans linked to the troubled property market, although Spain’s other major banks are not thought to be as badly affected.
Bankia was forced to reassure its customers last week following reports that up to €1 billion had been withdrawn, sparking a 30 per cent drop in the share price.