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-Spain's BFA to seek state aid for Banco De Valencia.

Global Banking News-November 8, 2011--Spain's BFA to seek state aid for Banco De Valencia(C)2011 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 08 November 2011

Spanish banking company BFA is likely to seek state aid for its troubled subsidiary, Banco de Valencia SA (BVA.MC), Dow Jones has reported, citing El Pais.

Any decision will be taken after consultation with other shareholders, a BFA spokesman said. BFA, which is also the parent company of Bankia SA (BKIA.MC), owns 39 percent of Banco de Valencia, an eastern Spain-based regional lender with a EUR428m market value.

The market supervisor suspended trading in Banco de Valencia shares on Monday.

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Publication:Global Banking News (GBN)
Geographic Code:4EUSP
Date:Nov 8, 2011
Words:131
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