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EN BREVE-Los acuerdos de Bankia y Caixabank aprueban la fusión de los dos bancos

The Company, in the manner governed by the legal and administrative provisions, will not recognise the exercise of voting rights deriving from a shareholder’s interest to those who acquire shares therein in violation of mandatory legal rules, of whatever kind and degree, or the rules contemplated in these bylaws. Similarly, the Company will publicise the interests of shareholders in its capital, in accordance with the applicable regulations. NPA coverage ratio Book amount of allowances for impairment of loans to customers, contingent liabilities and foreclosed assets as a percentage of the gross book amount of non-performing loans to customers, advances to customers, contingent liabilities and foreclosed assets. BFA and Bankia have signed the Framework Agreement in order to regulate their mutual relations, as well as relations between the companies of their respective groups . By virtue of this agreement, Bankia provides services to BFA related to financial and banking activity for the BFA-Bankia Group.

The Committee must be informed of any planned corporate transactions or changes to the corporate structure, so that it may analyse them and report to the Board of Directors on the economic terms and accounting impact of these transactions and, in particular, the proposed exchange ratio. Ensure that the Company and the auditor comply with current regulations on the provision of non-audit services, the limits on the concentration of the auditor’s business and, in general, other requirements fidelity broker designed to safeguard the auditor’s independence. Receive periodic reports on the unit’s activities, including presentations of the conclusions of its reports at the scheduled intervals and the preparation of reports in line with the annual workplan or in response to specific requests made or approved by the Committee. Those conclusions must include both the weaknesses or irregularities detected and the plans for resolving them and the monitoring of their implementation.

EN BREVE-Los acuerdos de Bankia y Caixabank aprueban la fusión de los dos bancos

The adoption of resolutions permanently delegating any authority of the board of directors to the executive committee and appointing members of the permanent executive committee will require the favourable vote of at least two thirds of the members of the board of directors. The board of directors annually will evaluate its performance and that of its committees and, based on the results, will propose an action plan correcting the deficiencies identified. The structure, functions and operating rules of these committees will be goverThe structure, functions and operating rules of these committees will be governed, to the extent not covered in these bylaws, by the board of directors regulations. Ned, to the extent not covered in these bylaws, by the board of directors regulations.

  • In that case, the meeting or, if applicable, the directors may resolve to distribute interim dividends for the financial year the accounts of which have been submitted for approval on the terms legally contemplated.
  • For compliance with capital and leverage ratios, see 8.3 in this Universal Registration Document.
  • A general overview of the Bankia Group’s SICFR, with information on its main components, is provided in section F, “Risk monitoring and management systems in relation to the financial reporting process”, of the Annual Corporate Governance Report for 2019, the content of which has been reviewed by the external auditor.
  • Net gains amounted to €411 million, an increase of 11.8% on 2017 and mainly correspond to the sale of fixed income securities in the year in anticipation of forecast market interest rate rises.
  • The new company “CA CF – Bankia, S.A.”, 51% owned by Crédit Agricole Consumer Finance and 49% by Bankia, was incorporated in the second half of 2018, once the pertinent authorisations had been obtained from the regulatory and supervisory bodies.

During the first half of 2020 and the years 2019, 2018 and 2017, no transaction costs were recorded for the issue or acquisition of own equity instruments. 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. For the historical financial information of the Issuer see section 18.1 of this Universal Registration Document and for the interim financial information of the Issuer see section 18.2 of this Universal Registration Document. There are no significant environmental issues that could affect Bankia’s utilisation of the tangible fixed assets.

BFA Tenedora Acciones

§ Periodic reports on the results of verification and control functions undertaken by the Company’s units. § Approval of overall internal control strategies and procedures, about which the Committee will receive regular reports. The Risk Advisory Committee met a total of 29 times in 2019 and a total of 16 times in the period from 1 January 2020 to 30 September 2020. Resolutions of the Risk Advisory Committee will be adopted by absolute majority of the members present at the meeting in person or by proxy. B) Define, within the scope of its authority, the overall preclassification limits for account holders or groups in relation to exposures by risk class.

¿Cuánto es el dividendo de Coca Cola?

¿Cuándo reparte dividendos Coca Cola? Los dividendos de Coca Cola se reparten de forma trimestral. En 2022 el dividendo anual es de $1,76 por acción, frente a los $1,68 por acción en 2021. Esto supone un dividendo trimestral de 0,44 dólares por acción de Coca Cola.

Determination of the amount of the remuneration items comprising the fixed part, the manner of configuring and indicators for calculation of the variable part, the assistance provisions, and the indemnification or the criteria for calculation thereof, also corresponds to the board of directors. The members of the risk advisory committee must have the appropriate knowledge, ability and experience to fully understand and control the risk strategy and risk tolerance of the Company. At least one third of its members must be independent directors. In any event, the chairman of the committee will be an independent director.

Preference shares

Morningstar categories help investors and investment professionals make meaningful comparisons between funds. The categories make it easier to build well-diversified portfolios, assess potential risk, and identify top-performing funds. We place funds in a given category based on their portfolio statistics and compositions over the past three years.

In the light of the difficulties in the financial services industry and financial markets, there is no guarantee that the rating agencies will maintain their current ratings or outlook. The Group’s failure to maintain favourable ratings and outlooks could increase the cost of its financing and adversely affect net interest income and the results of the Group’s operations. The monitoring of the deterioration of the price of some assets is complex. Prolonged price declines in the market can drain market liquidity, hinder the sale of assets and make it possible to incur material losses. In addition, negative trends in financial markets may produce changes in the value of Bankia’s investment portfolio and operations. On the other hand, at 30 June 2020 the Bankia Group’s wholesale financing amounted to €18,579 million, which represents a decrease of 0.5% compared to 31 December 2019.

E) In the case of appointment, ratification or reelection of a director, his identity, CV stating the type of director, and the appointments and responsible management committee’s report or proposal. In the case of a legal person, the information must include information on the individual that is to be appointed for permanent exercise of the functions inherent in the position. Call of the general meeting corresponds to the board of directors in accordance with the provisions of applicable legislation. S) to issue, in accordance with the Corporations Act, instructions to the board of directors or submit to its authorisation the adoption by the board of directors of decisions or resolutions on certain management matters. The governing bodies of the Company are the general shareholders meeting and the board of directors. The general meeting of shareholders will have authority to resolve to issue debentures that are convertible into shares or debentures that entitle the holder to share in the Company’s profits.

¿Qué es el pago de dividendos en acciones?

Es una parte del beneficio que la compañía acuerda entregar a los accionistas antes de que finalice el ejercicio financiero. A falta de los resultados anuales, se basa en sus propias estimaciones y cálculos para definir la cantidad de dinero a repartir. Dividendo complementario.

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”. During 2019, no shares were delivered, as no amounts were paid in respect of variable remuneration. However, during the first half of 2020, shares were allocated to Messrs. Goirigolzarri, Sevilla and Ortega in an amount equivalent to 25% of best stocks under 10 cents the annual variable remuneration accrued to them in 2016. The figure for the variable remuneration earned by Messrs. Goirigolzarri, Sevilla and Ortega in 2019 is awaiting the authorisations and approvals required under applicable law. On 26 March 2019, Carlos Egea Krauel resigned from his executive position while remaining a member of Bankia’s Board of Directors. The effects of this resignation from executive office were as provided for in the service agreement entered into between Bankia and Mr. Egea Krauel, who as of 28 June 2019 has the status of “other non-executive director”.

BFA Tenedora Acciones Investment Preferences

As at the date of this Universal Registration Document, the most relevant legal and regulatory proceedings in which the Bankia Group is involved are those described in section 18.6 of this Universal Registration Document. To cover the risk arising from claims and proceedings, as well as other legal, regulatory and tax risks, as at 30 June 2020 the Group had made balance sheet provisions of €188 million, representing 12.9% of all provisions recorded in the Group’s assets as at that date. The liquidation share will be paid, in whole or in part, in assets or rights originally contributed by each shareholder, on the terms established by the general meeting. The general meeting may resolve that the dividend will be fully or partially paid in kind, provided that the assets or securities distributed are uniform and are not distributed at a value less than that appearing on the balance sheet of the Company. If the general meeting resolves to distribute dividends, it will determine the time and form of payment. It may also delegate this determination to the board of directors.

  • As a result of all the above, the profit or loss attributable to the parent company for the first half of 2020 was €142 million, €258 million less than in the same period of 2019.
  • This right must be exercised by certifiable notice to be received at the registered office within the five days following publication of the call, the new points presented by the shareholders necessarily being accompanied by an explanation or, if applicable, a proposed resolution with an explanation.
  • In particular, the FROB, through BFA, has a sufficiently large shareholding in Bankia to approve corporate measures which require the approval of the shareholders .
  • If the call does not state the place the meeting is to be held, it will be understood that the meeting will be held at the registered office.

Shareholder will exercise their rights against the Company loyally and in accordance with the requirements of good faith. The Company will commence operations once registered in the Special Register of the Bank of Spain. The right to terminate each provision of services by providing reasonable prior notice and subject to ascertaining good faith and payment by the Parties of any breakage costs derived from an early termination, in the event of a change of control.

Bankia Banca Privada Moderado PP (0P000017AB.F)

It also notified a minimum total capital requirement of 12.75% of risk-weighted assets, made up of 8% of Pillar 1 requirements; 2% of Pillar 2 requirements; and 2.75% of combined buffer requirements. The minimum requirements notified by the ECB for the year 2020 remain at the same levels as those set for the year 2019. In 2018 the minimum requirement in terms of phase-in common equity was 8.563% and in terms of total phase-in capital it was 12.063%. On 1 January 2019 the transitional period for the minimum capital requirements ended, so the requirements are equalised for phase-in and fully loaded metrics15. Within the framework of the buyback performed by BFA of certain preferred participating securities or convertible preferred shares and subordinated debt, on 10 February 2012 Bankia’s Board of Directors resolved to carry out a cash capital increase without pre-emptive rights.

acciones banckia

C) Identify, make recommendation and report to the Board of Directors on proposals for the appointment of other directors to be appointed by co-option or by resolution of the General Meeting of Shareholders, and make proposals for their re-election or removal by the General Meeting of Shareholders. In particular, where the situation so requires, joint meetings will be held with the Remuneration Committee and mechanisms will be put in place to coordinate the work of the two committees to ensure consistency in the policies and criteria applied by the Committee to attract and retain talent. The Appointments and Responsible Management Committee will meet whenever a meeting is called by resolution of the Committee itself or its chairman, at least four times per year. Further, it also will meet whenever the Board of Directors or its chairman requests the issue of a report or the adoption of proposals. Report to the Board of Directors on the creation of, or the acquisition of holdings in, special purpose vehicles or entities domiciled in countries or territories classified as tax havens, and any other transactions or operations of a comparable nature the complexity of which could impair the transparency of the Group.

BFA Tenedora Acciones Board Members (

The reduction in the Bankia Group’s equity in the first half of 2020 is mainly due to the payment of the dividend recorded in March against 2019 earnings (€352 million) and the result generated in the first half of 2020 (€142 million). In June 2020, the Bankia Group achieved a BIS III fully loaded common equity Tier 1 ratio of 13.27% (13.02% at 31 December 2019) and a BIS III fully loaded total capital ratio of 17.29% (16.78% at 31 December 2019). Following are details of the different levels of capital and risk-weighted assets calculated in accordance with the provisions of the CRR and CRD IV at 30 June 2020 and at the end of 2019, 2018 and 2017, applying the transitional schedule required in each period. 15 Although the “phase-in” and “fully loaded” metrics have been equated with respect to the minimum capital requirements, the transitional regime for the deduction of deferred tax assets provided for in the Corporate Income Tax Act continues to apply, as indicated in section 9 “Regulatory Framework” – “Deferred tax assets”. And Cajamurcia Vida y Pensiones de Seguros y Reaseguros, S.A., for €110,306,000. Bankia is a commercial company, incorporated in Spain in accordance with Spanish law as a limited company (sociedad anónima), with bank status and whose shares are admitted for trading on the stock exchanges of Barcelona, Bilbao, Madrid and Valencia through the stock exchange interconnection system .

The merger would create the biggest domestic bank in Spain with assets of €650 billion. They are not distributed at a value less than that appearing on the balance sheet of the Company. The Company will secure civil liability insurance for its directors on the usual terms commensurate with the circumstances of the Company. Appointment of the chief executive officer will be for an indefinite term, for so long as the chief executive officer remains a director.

Pre-emptive rights will not arise for existing shareholders and holders of convertible debentures when the capital increase results from takeover of another company or all or a part of the assets and liabilities arising from the splitup of another company or conversion of debentures into shares. These objectives will be encouraged through responsible monitoring and the submittal of reports on investment in Bankia and non-intervention by etx capital opinioni FROB in Bankia’s administration, allowing Bankia’s directors to operate independently and promoting best practices in the securities market. Operating liabilities gave rise to a cash inflow of €2,316 million in 2019, compared to the cash outflow of €5,547 million the previous year, which represents an increase in cash and cash equivalents of €7,863 million during the year, concentrated mainly in financial liabilities at amortised cost.

  • At 30 June 2020 and 31 December 2019, 2018 and 2017 the Group had fully-loaded CET1 capital ratios of 13.27%, 13.02%, 12.39% and 12.66% respectively.
  • Into CaixaBank, S.A., the Bank is not aware of any other agreement the implementation of which may, at a later date, lead to a change in control of Bankia, or of the existence of a divestment plan defined by its majority shareholder.
  • C) Experience in preparing, auditing, analysing or evaluating financial statements of a similar degree of complexity to those of the Company or in supervising one or more people engaged in such tasks.
  • In particular, they must be of high commercial and professional integrity, have knowledge and experience appropriate to the performance of their duties and be willing to exercise good governance of the Company.
  • At the end of 2018 the Bankia Group reported profits attributable to the parent company of €703 million, €199 million more than for 2017 (+39.4%).

In 1996 he joined the corporate finance area at Coopers & Lybrand , where he remained until 2005, becoming senior manager of corporate finance, leading mergers and acquisitions, business valuations and strategic consulting. He has been a director of companies including Mapfre Familiar, Mapfre Vida, NH Hoteles and chairman of Bankia Banca Privada and Bankia Fondos. He has spent a large part of his career at PricewaterhouseCoopers , where in 1995 he was appointed International Partner. From 2003 to 2010 he was the partner responsible for the financial sector at PwC España and was a member of the PwC EMEA financial sector management committee. A large part of his career has been spent at the BBVA Group, where he held various management positions.

¿Dónde se negocian las acciones preferentes?

– Las Participaciones Preferentes no cotizan en Bolsa, aunque se negocian en un mercado organizado (AIAF-Asociación de Intermediarios de Activos financieros). – Pueden contar con un contrato de liquidez, aunque su liquidez es, en general, limitada, lo cual dificulta recuperar la inversión.

The business’s main risk areas identified in the plan, including the supervision of internal controls over the calculation of the APMs the Company use in its periodic reports, are adequately covered in practice. A) Supervise the preparation and presentation of the statutory financial statements and make recommendations and proposals to the Board of Directors aimed at safeguarding the integrity of the financial statements. In performing this task, the Committee must receive and analyse relevant reports from the heads of the internal control areas, especially internal audit, and must assess the level of trust and reliability of the system, developing proposals for improvement actions.

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