Bankia provided nearly €5.7 billion to help finance the foreign trade activities of Spanish companies during the first six months of the year, a year-on-year increase of 22.4% compared to €4.655 billion for the same period last year.
Bankia supported companies’ foreign trade activities in two ways – by providing import and export finance, and by granting guarantees to Spanish companies, which are fundamental for participating in international projects.
In the case of the former, import and export finance jumped by 30% during the first six months of the year, from €3.57 billion to €4.63 billion, while Bankia also granted €1.07 billion in international guarantees to companies during the period, in line with the figures from the first half of 2016.
The increase in financing during the period was achieved after the bank managed to expand its active foreign trade customer base by 9.2% in the last 12 months.
- The increase was driven by a higher volume of export and import financing, which rose by 30%
- The bank has increased its active foreign trade customer base by 9.2% in the last 12 months
- The most important Spanish regions in terms of the volume of foreign trade was generated by companies in the Region of Madrid (€2.3 billion), Catalonia (€1.076 billion) and the Region of Valencia (€655 million)
- José Ignacio Goirigolzarri reiterates that the merger with BMN will boost banking business revenues and increase profitability
- Bankia ranked once again on Dow Jones Sustainability Index (DJSI) as one of most sustainable firms in the world
- Ant Financial’s premium payment service has expanded into Spain
- Santander creates a global Wealth Management division, comprising private banking and asset management, and appoints Víctor Matarranz as Head
- Bankia provided nearly €5.7 billion to support companies’ foreign trade activities to June, a 22% increase