It’s not looking good for the Spanish banking system. Standard & Poor’s just slashed the credit ratings of five banks and said the country is headed into a double-dip recession. One of them, Bankia, just asked the government for 19 billion euros in aid - a roughly $23.8 billion boost.

Topics:  it&rsquo   standard   poor&rsquo   bankia   banks   billion euros in aid   
  • Spain's Bankia seeks record bailout of ?19 bn
    Spain's fourth-biggest bank, Bankia ... 31.8 billion euros at the end of last year, according to Bank of Spain figures. Standard & Poor's on Friday cut its credit ratings for five Spanish banks, including Bankia and its parent group BFA. It downgraded ...
    11/13/2017 - 4:04 pm | View Link
  • Spain's Bankia makes progress on bad loans despite profit fall
    while Spanish banks have combined non-performing loans of 106 billion euros.. The Spanish government, which owns around 67 percent of Bankia, said last week a partial sale of the lender was possible by the end of 2017 if the crisis prompted by a secession ...
    10/29/2017 - 1:00 pm | View Link
  • Spain, U.S. data drag on Europe stocks
    The country's government will borrow as much as 100 billion euros ($123 billion ... t solve anything right away,” she added. Spanish banks, such as Banco Popular Español SA (POP), off 7.1%, and Bankia SA (BKIA) 8.7% lower, attracted market attention ...
    06/26/2012 - 1:32 am | View Link
  • Preparations underway for Spain bank bailout
    The euro zone bailout fund, the European Financial Stability Facility (EFSF), has sufficient capital to meet Spain’s immediate requirements to capitalise the distressed banks ... of last month 19 billion euros to avert bankruptcy. Bankia had already ...
    06/9/2012 - 6:24 am | View Link
  • Spain's Bankia seeks 19bn-euro bailout from government
    Spain's fourth-largest bank, Bankia, has asked the government for a bailout worth 19bns euros ($24bn ... Spain's credit rating was downgraded by S&P last month on the basis that it would probably have to take on more debt to support its banks.
    05/25/2012 - 3:13 pm | View Link
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  • Today's Stock Market News and Analysis
    Get the latest news and analysis in the stock market today, including national and world stock market news, business news, financial news and more.
    11/20/2017 - 1:08 am | View Website
  • Bankia
    Bankia (Spanish pronunciation: ) is a Spanish bank that was formed in December 2010, consolidating the operations of seven regional savings banks, and was partially ...
    11/17/2017 - 1:22 pm | View Website
  • European debt crisis
    The European debt crisis (often also referred to as the Eurozone crisis or the European sovereign debt crisis) is a multi-year debt crisis that has been taking place ...
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