Company Overview of Banco Financiero y de Ahorros S.A.
Banco Financiero y de Ahorros S.A. provides a range of banking services to individuals, and small and medium-sized companies in Spain. The company offers fixed-term deposits; consumer and mortgage loans; and capital market, private banking, asset management, and insurance services. It serves customers through a distribution channel of offices, Website, events, and fairs. The company was founded in 2010 and is based in Madrid, Spain.
Paseo de la Castellana nº 189
Founded in 2010
Key Executives for Banco Financiero y de Ahorros S.A.
Compensation as of Fiscal Year 2012.
Banco Financiero y de Ahorros S.A. Key Developments
Hojiblanca Mulls Acquisition Of 16% Stake Of Banco In Deoleo
Apr 6 13
Grupo Hojiblanca is planning to acquire 16% stake in Deoleo SA from Banco Financiero y de Ahorros S.A. Antonio Luque, Director General of Hojiblanca said to El Economista, "If it's possible, we are not ruling out buying that stake. We are considering it." Antonio added that other shareholders Deoleo are expected to sell their stakes too and Hojiblanca would wait to see how things progress before purchasing Bankia's stake. Antonio said, "What is our strategy for the future? To have a bigger stake in Deoleo. A total merger is impossible ... Taking a bigger stake in the future, well yes."
Banco Financiero y de Ahorros S.A. Announces Board Changes
Mar 19 13
Banco Financiero y de Ahorros S.A. on March 15 announced the appointment of Fernando Fernández Méndez de Andés as a member of its administrative board, replacing Alfredo Lafita Pardo, who resigned.
Commission Approves Restructuring Plans of NCG Banco, S.A., Banco Financiero y de Ahorros S.A., Catalunya Banc, S.A., Banco de Valencia SA and Bankia, SA
Nov 28 12
The European Commission has concluded that the restructuring plans of the four Spanish banks BFA/Bankia, NCG Banco, Catalunya Banc and Banco de Valencia are in line with EU state aid rules. The in-depth restructuring undergone by BFA/Bankia, NCG Banco, Catalunya Banc will allow them to become viable in the long-term without continued state support. Moreover, the banks and their stakeholders adequately contribute to the costs of restructuring. Finally, the plans foresee sufficient safeguards to limit the distortions of competition induced by the state support. Because its viability could not be restored on a standalone basis, Banco de Valencia will cease to exist as an independent entity and will be sold and integrated into CaixaBank. The restructuring plans were submitted for Commission approval as foreseen by the Memorandum of Understanding (MoU) agreed between Spain and the Eurogroup in July 2012. The Commission's approval will allow the banks to receive aid from the European Stability Mechanism (ESM) in the context of the financial assistance programme to recapitalise the Spanish banking sector. In the case of BFA/Bankia, NCG Banco and Catalunya Banc, the Commission found that the proposed restructuring measures will ensure that the three banks return to long term viability as sound credit institutions in Spain. By 2017, the balance sheet of each bank will be reduced by more than 60% compared to 2010. In particular, the banks will refocus their business model on retail and SME lending in their historical core regions. They will exit from lending to real estate development and limit their presence in wholesale business. This will contribute to reinforcing their capital and liquidity positions and reduce their reliance on wholesale and central bank funding.
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December 26, 2012