17 Nov, 2014 @ 11:18
1 min read

Bankia sells off unsecured loans

BANK lender Bankia has unloaded millions of euros worth of unsecured loans to two global asset management schemes.

American firms Bain Capital and Starwood Capital purchased €800 million worth of unpaid loans as the Spanish lender attempted to balance its books.

Bankia was formed in 2010 when seven savings banks merged following the economic crisis. The group was nationalised in 2012 after receiving a €19 billion government bailout, the largest bank bailout ever in Spain.

 

Rob Horgan

DO YOU HAVE NEWS FOR US at Spain’s most popular English newspaper - the Olive Press? Contact us now via email: [email protected] or call 951 273 575. To contact the newsdesk out of regular office hours please call +34 665 798 618.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Previous Story

Star-studded Sevilla dance group brings Carmen with a flamenco twist to Andalucia

Next Story

Historic photos of Cuban revolutionary Che Guevara discovered in Spain

Latest from Business & Finance

Go toTop

More From The Olive Press

Bank wars in Spain: BBVA announces hostile takeover of rival Sabadell – after merger deal failed

SPANISH bank BBVA has launched a hostile takeover bid for
Economy Minister Nadia Calviño

Spain’s government to BAN bank charges for over-65s who withdraw cash from branches 

SPAIN’S Deputy Prime Minister and Economy Minister Nadia Calviño has