MADRID — Shares in Bankia, the giant Spanish mortgage lender that was at the heart of the country’s banking crisis, fell sharply on Tuesday after a large share issue that was meant to herald a new start.
Showing posts with label Spain’s banking crisis. Show all posts
Showing posts with label Spain’s banking crisis. Show all posts
May 28, 2012
Giant Lender in Spain Asks for Billions to Fend Off Collapse
MADRID — Spain’s banking crisis worsened Friday as the board of Bankia, the country’s biggest mortgage lender, warned that it would need an additional 19 billion euros ($23.88 billion), far beyond what the government estimated when it seized the bank and its portfolio of delinquent real estate loans earlier this month.
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