Post by account_disabled on Jan 16, 2024 21:45:32 GMT -6
The one who will be the new executive president of CaixaBank , José Ignacio Goirigolzarri , has recognized that despite the pressure exerted by interest rates, Bankia was achieving all the business and activity objectives proposed in its strategic plan, but that even so, The behavior curve of the stock barely changed: "That was the situation, and we had to react to it, and of course the best alternative for the shareholders was this merger." "There is no other option that generates so much value for the shareholder." He also believes that the merger is the best option for shareholders, but also for taxpayers, in order to "optimize" the value of the State's participation.
From the point of view of the shareholders, it is a very positive operation, which not only means that they immediately have a premium – due to the exchange ratio of 20% over the September 3 price – but that in the future They will benefit from an entity with greater profitability. In 2022 we could have an increase in earnings per share of almost 70% ," added Goirigolzarri. Furthermore, recalling the role of the State, he stressed: "I believe Whatsapp Number List that regardless of whether the recovery of public aid is greater or less, the decision that was made at the time to save the depositors was the correct one." Asked whether he and the CEO, Gonzalo Gortázar , were concerned about the presence of the State in the new bank, of which he will be the second shareholder, with 16%, Gortázar said that he had "no concern" and was convinced that the State will decide to exit capital "at the right time.
The role of the FROB In any case, they understand the public presence in the shareholding – 16.1% – as “one more reason to do a good job ,” said Gortázar. For his part, Goirigolzarri has acknowledged that "there is no schedule drawn up" for the State's exit from capital, although he has considered that now "does not seem like the best time", since the current economic context "is not good" given that Europe faces "the lowest price in the financial sector in the last 30 years." He also recalled that the State has already extended the deadline for the entity's departure until the end of 2021 and that a hypothetical extension of that deadline is "a decision of the Council of Ministers", "there is no commitment with Brussels" , he added. Goirigolzarri also wanted to make it clear that the FROB has not intervened in the negotiation of the merger and that it has not established conditions, a common trend in recent years of work when the president had stressed that there has never been " any political interference" in his job".
From the point of view of the shareholders, it is a very positive operation, which not only means that they immediately have a premium – due to the exchange ratio of 20% over the September 3 price – but that in the future They will benefit from an entity with greater profitability. In 2022 we could have an increase in earnings per share of almost 70% ," added Goirigolzarri. Furthermore, recalling the role of the State, he stressed: "I believe Whatsapp Number List that regardless of whether the recovery of public aid is greater or less, the decision that was made at the time to save the depositors was the correct one." Asked whether he and the CEO, Gonzalo Gortázar , were concerned about the presence of the State in the new bank, of which he will be the second shareholder, with 16%, Gortázar said that he had "no concern" and was convinced that the State will decide to exit capital "at the right time.
The role of the FROB In any case, they understand the public presence in the shareholding – 16.1% – as “one more reason to do a good job ,” said Gortázar. For his part, Goirigolzarri has acknowledged that "there is no schedule drawn up" for the State's exit from capital, although he has considered that now "does not seem like the best time", since the current economic context "is not good" given that Europe faces "the lowest price in the financial sector in the last 30 years." He also recalled that the State has already extended the deadline for the entity's departure until the end of 2021 and that a hypothetical extension of that deadline is "a decision of the Council of Ministers", "there is no commitment with Brussels" , he added. Goirigolzarri also wanted to make it clear that the FROB has not intervened in the negotiation of the merger and that it has not established conditions, a common trend in recent years of work when the president had stressed that there has never been " any political interference" in his job".