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Bankia says fulfilled compensation claims worth EU358 Mln

Source: Reuters - Tue 15th Mar 2016
Bankia says fulfilled compensation claims worth EU358 Mln

Spain's state-owned Bankia has compensated 61% of the 125,415 claims from minority shareholders who bought into its ill-fated listing, its chairman told shareholders on Tuesday.

The payouts, up to March 11, are worth EU358 million euros, Jose Ignacio Goirigolzarri said during the annual shareholders meeting.

In February the nationalised lender said it would fully compensate small investors almost totally wiped out in its 2011 listing before the lender was nationalised.

The decision to compensate minority shareholders aims to close a painful chapter for the bank and allow it to move ahead with its restructuring and return to private ownership.

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