Bankia now owns Valencia CF

Bankia, nationalised and bailed out to the tune of €18 billion, is now the owner of Valencia football club following a court ruling on Tuesday.

Record losses for Bankia

Bankia posted record losses of €19.193 million for 2012, six times the €2.979 million it lost in 2011. The parent company, BFA Bankia, closed 2012 with a loss of €21.238 million.

Not everyone is suffering

The financial director of Bancaja, now part of Bankia, could be in line for a €14 million payout when he leaves the organisation.

Bankia needs €19 billion bailout

Bankia, the fourth largest bank in Spain, requires a €19 billion bailout after figures for 2011 show a loss of €2.89 billion rather that the €309 million profit reported in February.