Bankia Parent BFA Has Negative Value of $13.8 Billion, FROB Says
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Banco Financiero y de Ahorros, the parent of Bankia, has negative value of 10.4 billion euros ($13.8 billion), Spain’s bank-rescue fund said, as it pledged to recapitalize all the lenders it controls by year-end.
Bankia, BFA’s listed unit, has a negative value of 4.15 billion euros, the FROB rescue fund said in an e-mailed statement today in Madrid.