Bankia was a Spanish financial services company that was formed in December 2010, consolidating the operations of seven regional savings banks, and was partially nationalized by the government of Spain in May 2012 due to the near collapse of the institution.
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Bankia was formed on 3 December 2010, as a result of the union of seven Spanish savings banks that had a major presence in their historical core regions.
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The shares of Bankia began trading on the Bolsa de Madrid on 20 July 2011, under the symbol BKIA, and the bank was listed in the IBEX 35.
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In 2012, Bankia was the third-largest lender in Spain, but the largest holder of real estate assets at €38 billion.
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Bankia revised its earnings statement for 2011, stating that instead of a profit of €309 million, it had in fact lost €4.
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On 7 July 2015, Bankia paid the first dividend in its history €0,0176 per share.
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On 27 June 2017, Bankia agreed to acquire state-owned bank BMN for €825 million in an all-stock deal.
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On 3 November, Bankia announced that it was listed in the CDP Climate Change report for 2017 as one of a group of 112 global companies leading the fight against climate change.
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The deadline for the privatisation of Bankia was end-2019 in December 2018 the Government decided to postpone the privatization until end-2021.
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Bankia sold around €5 billion in complex financial products such as preference shares and subordinated debt to customers.
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Bankia gathered more than 600,000 signatures in 2 months, asking banks and other institutions to serve all citizens, and not discriminate the oldest and most vulnerable members.
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Bankia is listed on the Bolsa de Madrid and is a constituent of the IBEX 35.
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