BFA Tenedora Acciones Company Profile: Financings & Team

As of 30 June 2020, BFA’s total provision amounted to €105.9 million. In addition, a total of 98 civil claims have been filed against Bankia by institutional investors, 91 from the primary market and 7 from investors who acquired Bankia shares on the secondary market. As regards primary market acquisitions, at 30 June 2020 a total of 84 rulings were issued at first instance, 24 of which were favourable and 60 unfavourable to Bankia.

For the operating results of the Bankia Group, see section 18 of this Universal Registration Document. Without prejudice to the foregoing, the main financial ratios and figures of the Bankia Group as of 30 June 2020 and 2019, and 31 December 2019, 2018 and 2017 are set forth below. For information on the Issuer’s financial position and any changes in that position, see sections 8 of this Universal Registration Document.

Alantra advised Banco de Crédito e Inversiones on the acquisition of City National Bank of Florida

Transfers of new shares may not be effectuated before the capital increase has been registered in the Mercantile Register. The Company may issue non-voting shares for a nominal amount of no more than one half of paid-up share capital. The board of directors has authority to resolve to change the registered office within the same municipality. B) the acquisition, daily treasury yield curve rates holding and disposition of all kinds of securities, without limitation including interests in other lending institutions, investment services undertakings or insurance or insurance brokerage companies, to the extent permitted by the legislation in force. In accordance with Spanish law, FROB is ultimately obliged to divest in BFA and, indirectly, in the Company.

• With a view to the future, the outbreak of COVID-19 and its economic and social consequences, although still uncertain, could have a substantial negative effect on the results of operations and financial and asset position of the Group.
• The report issued by the external auditor on the “Information concerning the system of internal controls over financial reporting ” and attached to said corporate governance report states that “The procedures applied to the information concerning the SICFR have not brought to light any inconsistencies or issues that could affect said information”.
• On 31 December 2015, BFA established an additional provision of €415 million regarding its contingent liability in respect of any potential claims of investors in hybrid instruments.

Any member of the Company’s management team or personnel that is requested to do so must attend its meetings and provide his or her cooperation and access to the information available to him or her. One of its meetings must necessarily be used to evaluate the efficiency of and compliance with the Company’s governance rules and procedures, and prepare the information the Board must approve and include in the annual public documentation. The members of the audit and compliance committee will be appointed by the board of directors taking into account the knowledge, aptitude and experience in accounting, auditing or both areas of the directors and the tasks of the committee; the members of the committee, as a whole, must possess the relevant technical knowledge of the banking sector. The board of directors will, after obtaining a report from the appointments and responsible management committee, appoint a secretary and, optionally, an assistant secretary, capable of performing the duties inherent in those positions. The respective appointments may be of persons who are not directors, in which case they will act with voice but not vote. The assistant secretary will replace the secretary in cases of absence, unavailability, incapacity or vacancy.

Spain

There will be a quorum for the audit and compliance committee with the attendance, in person or by proxy, of at least half of its members. It will adopt its resolutions by absolute majority of the members of the committee in attendance at the meeting, in person or by proxy. The members of the committee may extend proxies to other members. The resolutions of the audit and compliance committee will be maintained in a minutes book, each entry in which will be signed by the Chairman and the secretary. Resolutions of the executive committee will be adopted by absolute majority of the directors that are members of the committee, present in person or by proxy at the meeting, except for resolutions to delegate authority, which will be adopted by the legally required majority.

• If the shareholders’ right cannot be satisfied at that moment, the directors must provide the information in writing.
• Have increased and could continue to significantly increase the Group’s operating expenses and negatively affect its business model.
• And Cajamurcia Vida y Pensiones de Seguros y Reaseguros, S.A., for €110,306,000.
• The average term for payment to suppliers of the Company will be published on the Company’s website.

The electronic shareholder forum regulations may be developed by the general meeting regulations which, in turn, may authorise the board of directors to regulate all necessary procedural aspects. The general meeting of the Company, at least every three years, as a separate point on the agenda, will approve the director remuneration policy, which will be adapted as applicable to the remuneration system set forth in the bylaws, on the terms contemplated by law. The proposal of the aforesaid remuneration policy must attach a report of the remuneration committee. The risk advisory committee will have the authority provided by law, as well as the responsibilities and authority regulated in the board regulations, or such others as the board of directors may attribute thereto. The remuneration committee will have the authority provided by law, as well as the responsibilities and authority regulated in the board regulations, or such others as the board of directors may attribute thereto.

Preference shares

Net income before provisions Gross income less administrative expenses and depreciation and amortisation Efficiency ratio Operating expenses divided by gross income. Cost of risk The sum of impairment losses on financial assets and allowances for contingent liabilities recorded under “Provisions ” in the statement 10 advanced c++ books and courses for experienced programmers of financial position divided by average gross loans and advances to customers and contingent liabilities for the period. Non-recurring extraordinary provisions are deducted from impairment losses on financial assets and from any movement in impairment losses recognised on fixed income instruments.

In any event, the magnitude of this disruption is very high and is caused by a sharp contraction in economic activity. As at the date of this Universal Registration Document, in the most positive scenario the Bank of Spain estimates a variation in Spanish GDP of -10.5% in 2020 and of +7.3% in 2021. In the most negative scenario, which envisages a greater intensity in outbreaks with the resulting impact on production and services, these changes would be -12.6% in 2020 and +4.1% in 2021. The proposed transaction relates to the securities of CaixaBank, S.A.

Bankia Banca Privada Moderado PP (0P000017AB.F)

Except in specific cases where appropriate justification must be given in the minutes, guests must not attend the deliberation and voting phases of the meeting. The Appointments and Responsible Management Committee will be made up of no fewer than three and no more than five non-executive directors, the majority of them independent. A) Monitor the effectiveness of the Company’s internal control, regulatory compliance and financial and non-financial risk management systems, based on the periodic reports submitted to it by the Company’s managers microsoft network engineer: diploma program summary and the conclusions reached in any tests carried out on those systems by the internal auditors or any other professional hired specifically for that purpose. The Risk Advisory Committee will be made up of no fewer than three and no more than five directors, who must not be executive directors. The members of the Risk Advisory Committee must have the necessary knowledge, ability and experience to fully understand and control the Company’s risk strategy and risk appetite. At least one-third of its members must be independent directors.

The Bankia Group ended the first half of 2020 with profit attributable to the parent company of €142 million, 64.4% less than for the first half of 2019. This decline is due mainly to the extraordinary provisions of €310 million set aside to face the situation created by the COVID-19 crisis. Bankia’s historical financial information for 2019, 2018 and 2017 included in this Universal Registration Document has been prepared in accordance with International Financial Reporting Standards as endorsed in European Union regulations (IFRS or IFRS-EU), taking relevant circulars and subsequent amendments into account. Bankia has not changed its accounting reference date in the period covered by the historical financial information included in this Universal Registration Document.

IT systems are vulnerable to a range of problems, such as hardware and software malfunctions, computer viruses, piracy and physical damage to IT facilities. In addition, the growing use of mobile and internet banking platforms in recent years may require changes in the Group’s strategy that increase the costs of reconfiguring the facilities, equipment and employees of its commercial network. Failure to implement such changes could have a material adverse impact on the Bankia Group’s competitive position.

Within net equity, shareholders’ capital amounted to €3,070 million, €15 million less than at December 2018 (-0.5%), as a result of the capital decrease effected by means of the redemption of treasury shares, filed in the Commercial Registry on 3 May 2019. The aforesaid remuneration will be included in a contract to be entered into between the director and the Company, which must be approved by the board of directors with the favourable vote of two thirds of its members, and must be attached as an annex to the minutes of the meeting. The affected director must refrain from attendance, deliberation and participation in voting. The director may not receive any remuneration for the performance of executive functions the amounts or categories of which are not contemplated in the contract.

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Bankia is one of the main competitors in the business banking sector, with a base of more than 29,400 active customers . The customer base in the large companies and SMEs sector is diversified across different sectors of the economy, including services, commerce and industry (which accounts for 48.8% of Business Banking’s total customer portfolio at 30 June 2020), as well as construction and public services. The cybersecurity risks facing the sector have increased significantly in recent years as a result of two main factors. On the one hand, these risks have increased due to the proliferation of new technologies and the use of the Internet and new mobile channels to carry out financial operations. On the other hand, the foregoing risks have also been accentuated by the activities of criminal or terrorist organisations, hostile foreign governments, disgruntled employees or suppliers, activists and other external participants.