believe that only with the steady growth Bankia will have more value and will repay the aid taxpayers
MADRID, 10 December (IRIN) -.
The president of Bankia, Jose Ignacio Goirigolzarri, said Wednesday that banks, both Spanish and European, must regain the trust of society and improve profitability to face the future, since the new legislation is very demanding in terms of capital.
During his speech at the Congress of financial directors organized by the Association for the Progress in Management (APD), management has indicated that the stress tests that the European Central Bank (ECB) held at the bench showed the quality of capital from banks and the health of their balance sheets, but noted now the challenge to face is profitability.
“The banking system requires profitability because it is the way to attract capital. The financial system needs capital because the new regulation is very demanding, “he stated, while pointed to get raise levels of profitability” is not easy “in countries like Spain, which are still deleveraging, and a type environment close to zero.
Goirigolzarri highlighted the efforts made by the financial system in recent years to get sanitized and stressed that if there has been an institution that has excelled in this context that has been Bankia.
TRANSPARENCY AND EXCHANGE BOARD
In this regard, recalled that he was named president of the bank on May 9, 2012, the day he received a letter from the Bank of Spain with two messages:. one card and another in which you are required a recapitalization plan and sanitation for the bank
“That’s what we did between 9 and May 25. Ministry of Economic Advisers We worked hard and in collaboration with the Bank of Spain, the Fund for Orderly Bank Restructuring (FROB) and. We work great professionalism and absolute transparency, “he insisted.
Immediately afterwards, the president of Bankia has stated that it undertook at the time” a total change “in the corporate governance of the entity and professional “with notable vital curriculums” were incorporated.
“Today, being a director of Bankia is one thing that people can fancy him, but two years ago assume the reputational challenges that had to assume, I find it remarkable, “he added.
BEST COMMERCIAL BANK OF SPAIN
Currently, Bankia aspires to be the best commercial bank in Spain, for which need to improve profitability and to have a stable growth. “Only the steady growth Bankia will have more value and can repay the aid to taxpayers,” he added.
The manager insisted that to achieve sustainable profitability entity shall generate long-term relationships with customers and improve social recognition and operate according to its principles.
Despite the developments that have taken the entity, management has recognized that still has “a lot to advance and many challenges ahead,” but stressed that “the hardest part is behind us.” “We struggled a tremendous effort to get to where we have come,” he noted.
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