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Bankia SA BME

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ES0113307021

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Bankia : BFA-Bankia reduces NPLs by more than 2,000 million euros through loan portfolio sales during the year

January 08, 2016 at 05:44 am EST

The Bank completed four large sales of loan portfolios for an aggregate amount of nearly 2,800 million
These sales allowed the Bank to improve the quality of its balance sheet, increase its liquidity and free up resources for new lending
Additionally, in the first nine months of the year Bankia reduced NPLs organically by a further 1,200 million

Over the course of 2015, BFA-Bankia succeeded in reducing doubtful loans by more than 2,000 million euros through the sale of loan portfolios. These transactions allowed the Bank to improve the quality of its balance sheet, increase its liquidity and free up funds for new lending.

The Bank completed four large sales of loan portfolios during the year for an aggregate amount of nearly 2,800 million euros.

In May BFA-Bankia completed the sale of a portfolio of non-performing loans to the real estate developer sector, some with real estate collateral, for 558 million euros. The portfolio comprised a total of 180 loans.

One month later Bankia sold a portfolio of loans in the amount of 383 million euros backed by hotel properties, comprising a total of 91 loans linked to 45 assets.

In September the Bank carried out the largest of these transactions with the disposal of a portfolio of real-estate-related loans in the amount of 1,206 million euros, of which 986.8 million euros were collateralised.

In recent weeks BFA-Bankia transferred a package of loans in the amount of 645.1 million euros, all of them loans to businesses and some backed by real estate collateral.

In order to maximise the price obtained for the portfolios, all the sales were carried out through competitive bidding among institutional investors and leading financial institutions. With these transactions the group moves closer to its goal of divesting all non-strategic assets.

The decline in doubtful loans by organic means also led to a significant reduction in NPLs. In the first nine months of the year Bankia reduced NPLs by 1,200 million euros, bringing the NPL ratio at the end of September down to 11.4%.

Bankia SA issued this content on 2015-12-30 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-08 10:43:54 UTC

Original Document: http://www.bankia.com/en/communication/in-the-news/press-releases/bfa-bankia-reduces-npls-by-more-than-2000-million-euros-through-loan-portfolio-sales-during-the-year.html

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Bankia, S.A. is a banking group organized around three areas of activity: - retail banking (63.5% of Net Interest Income): sales of standard and specialized banking products (consumer credit, insurance, etc.); - business banking (19.7%); - other (16.8%). At the end of 2019, the group was managing EUR 124.8 billion in current deposits and EUR 117.4 billion in current loans. Products and services are marketed via a network of 2,275 branches located in Spain.

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