No more trading on the Madrid Stock Exchange for the title Bankia. The stop came after rumors about a possible request to the Spanish government for new aid for over 15 billion euros. Bankia will present its restructuring plan today and, according to a source quoted by Reuters, "more than 15 billion euros will be needed to help clean up the bank".
Economy Minister Luis de Guindos had previously anticipated that the government is ready to inject at least 9 billion euros into the bank to cover losses in the real estate sector.
the institute, partially nationalized about two weeks ago, it already received 4,5 billion euros from Madrid. it is the fourth institution in the country, which owns 10% of the total deposits of Spaniards.
