Bankia desde dentro

On May 7, 2012, Rodrigo Rato announced his resignation as president of BFA and Bankia to make way for José Ignacio Goirigolzarri, a prestigious banker. That same day he had woken up with various news items in the media pointing to the imminent injection of public money into the entity. But little was clarified about whether this was the result of the execution of the so-called "Plan Rato", in which they had been working for the last few months -with a loan structure- or if, on the contrary, it was the prelude to a radical change in the board of directors. Spain was in the spotlight of the international authorities, both the IMF and the European Commission and the ECB, due to the problems in the financial sector. Inside it, all eyes were on Bankia because of its size. The government rejected Rato's model as insufficient. The new team determined the true needs of the bank in two weeks, an exercise ratified by the subsequent analysis of the European organizations, which determined the final amount to allocate to BFA-Bankia. But how did this situation come about? Juan Emilio Maíllo Belda, Bankia's Director of External Communication, breaks down all the keys to understanding what happened. During his time, he experienced first-hand the change in the leadership of the bank, its clean-up process and the resurgence of the bank in financial and reputational terms, as well as the progress in the recovery by the State of the aid allocated to Bankia. This book recounts from experience the way in which the entity managed the departure of six thousand employees, the closure of a thousand offices, the denunciation of black cards and other judicial cases, the return of the investment in preferred shares, the process of selling a football club like Valencia and the recent integration of Bankia into CaixaBank.