(Corrects information in the penultimate paragraph apologize for any discomfort) insists that the report does not question the experts “or the amount or concepts” of the recapitalization
MADRID, 10 (EUROPA PRESS)
President of BANKIA (BKIA .MC) José Ignacio Goirigolzarri, said Wednesday that the company has “enough muscle” to deal with a possible questioning of the IPO of the company in 2011, and today is a solvent and profitable bank.
“In the eventuality that the IPO was questioning assumptions –a very much in the air– even now, the BFA-Bankia group has enough muscle to deal with this eventuality without asking taxpayers money, “stressed Goirigolzarri during his speech at the Congress of financial directors organized by the Association for the Advancement of Management (APD).
The president of Bankia recalled that the entity is now “in an excellent position from the point of view of robustness and from the point of view of profitability” and pointed out that the new management team of the company has managed to generate capital by 5,500 million euros. Bankia caught 3,000 million in its IPO.
The executive, who has indicated he has “absolute respect” for the work of justice, stressed that the report of the experts of the Bank of Spain which calls into question the accounts of Bankia 2011 is “a piece” in a judicial process underway and has advanced that, today, they are analyzed, as it is intended a “window of analysis and contrast” on National Court in January.
STRENGTH AND PROFITABILITY
In this sense, has emphasized that the report “does not question either the amount or the concepts of recapitalization Bankia in 2011 and 2012 “, while insisted that the company is currently in an” excellent position “soundness and profitability.
Goirigolzarri has indicated that he was appointed president on May 9, 2012 , at which time he began “urgently” a recapitalization plan and sanitation which was presented to investors on May 26, along with the announcement of the change of the board.
In this plan, a need for capital was shown by value of EUR 19,000 million Bankia, so we decided to restate the accounts. “The market we gave all details with absolute transparency,” he added.
The bank president has emphasized that the board of directors approved the accounts reformulated is not present, appointed in late May 2012.
The management has found that after 18 months of analysis, the bills “pose no additional adjustment to which they were presented on May 25″ and has stressed that all the operations referred to in the reports were identified, analyzed and reported by Bankia to FROB and the Bank of Spain.
FILE CLAIMS
Goirigolzarri has indicated that the bank plans to make representations to report of the experts, in which it is stated that the reformulation of the accounts was done at the time should have been rated “accounting errors” in 2010.
Finally, the CEO has avoided ruling on the IPO of the company because it is ‘sub judice’, but not before highlighting the “proud” that is the work that was carried out between 9 and 25 May 2012.
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