Shareholders focus Bankia protests output irregularities … – Terra Colombia

At the fourth meeting chaired by José Ignacio Goirigolzarri since the nationalization of Bankia in May 2012, the anger of shareholders focused on this case especially in cases accounting errors reported by two experts from the Bank of Spain at the time of its IPO.

At the fourth meeting chaired by José Ignacio Goirigolzarri since the nationalization of Bankia in May 2012, the anger of shareholders focused on this case especially in cases accounting errors reported by two experts in the Bank of Spain at the time of its IPO. In the photo, protesters outside the building where the meeting of shareholders of Bankia in Valencia was celebrated on April 22, 2015.

Photo: Heino Kalis / Reuters

The BFA-Bankia group rescued with public aid of 22.424 million euros, is under investigation for irregularities associated with their OPS July 2011, when it was headed by Rodrigo Rato ..

While the protests turned to focus on the loss suffered by thousands of retail investors with shares in Bankia, the recent unrest was stoked after report experts from the Bank of Spain [ID: L6N0TO2P7]

“I bought shares for 6,000 euros in the IPO and consider it a fraud because it turns out that the accounts were not properly audited at the time,” said Vicente Ros, 64, pensioner, near the Palacio de Congresos in Valencia.

The technicians of the Bank of Spain held in December that the IPO of the company was made with financial statements that did not express the true image of the entity.

“He who sold me (shares) was Rato and we are now investigating personal issues. It’s outrageous,” said Ros.

Rato, who since late last week also being investigated for alleged tax evasion in connection with their personal assets, was also the subject of protests by shareholders present near the Palacio for alleged abuse of opaque cards [ID: L5N0XI4HE].

After the nationalization of some banks, forcing banks to redeem these shares products by applying discounts, thousands affected in investments in complex financial products filed lawsuits in court to try to recoup their investment.

In an attempt to calm the mood of shareholders, Goirigolzarri stated that of the 183,248 applications received in arbitration proceedings concerning alleged fraudulent sale of these products by Bankia, resolved 72.8 percent favorably by 2.166 million euros.

INCREASE PROFITS IN 2015 DIVIDEND PAYMENT

In an attempt to give a touch of normality to the board, the president of the company previously said that the company will experience this year ” sharp increase “in profits in 2015 to advance its goal of restoring aid resulting from its nationalization.

In 2014, the benefit of Bankia amounted to 747 million euros after applying a charge of 312 million euros for any claims regarding its controversial IPO.

The team Goirigolzarri had in 2015 net profit in the BFA-Bankia group of about 1,200 million.

The board approved its first dividend payment of 0.0175 euros per share in cash charge to income in 2014.

“It’s a way of giving aid to taxpayers “he said. The state, which controls 62.9 percent of Bankia, more than 126 million euros, which will add to the 1,304 million euros already recovered sale in market from 7.5 percent will pocket bank.

With respect to dividends in 2015, Goirigolzarri said he expected an improvement in line with the increase of the results.