Bankia will distribute more than 2,500 million dividends in three years

Bankia plans to distribute more than 2,500 million euros in dividends among its shareholders over the next three years, an amount that doubles the 1,160 million paid in the last four years, according to the bank’s 2018-2020 strategic plan released on Tuesday. The president of the entity, José Ignacio Goirigolzarri, has admitted that this dividend generation will mean “an important step forward in the return of public aid” (the State injected 22,424 million in Bankia during the banking crisis).

This dividend figure is the result of the intention of the entity to raise to 45% to 50% the percentage of profits that will be destined to the ordinary dividend payment in cash and to reintegrate the excess of capital over 12% CET1 fully loaded (first level principal capital).

The bank also plans to achieve a profit of more than 1,300 million in the last year of the plan, which is 62% more than last year (804 million), and raise its ROE (return on equity) to 10 , 8%, once adjusted to a capital level of 12%.

Goirigolzarri has highlighted through a statement: “Our goal is to become, in these three years, the best bank in Spain, which means, in the first place, to be the most profitable, efficient and solvent bank among the largest in the sector, and in second place to have more satisfied customers, more committed teams and greater social recognition “.

The Bankia top executive added that the entity will continue to have “a model of strong capital generation, which will allow us to deliver more than 2.5 billion euros to shareholders over the next three years.”

Bankia also aims to attract 400,000 new clients during these three years in order to “increase our revenues and increase market shares in profitable products such as consumer loans, corporate financing, investment funds or means of payment”, according to has declared the CEO, José Sevilla.

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