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home / news releases / caixabank merger will highlight challenges than oppo

BNKXY - CaixaBank: Merger Will Highlight Challenges Than Opportunities

Bankia S.A ADR
  • CaixaBank and Bankia announced a merger which should be conducted during Q1 FY12/2021.
  • This looks like a defensive maneuver, and we believe it highlights a deterioration of asset quality and a potential need to raise equity capital.
  • With the shares trading at an estimated combined entity level of P/NAV 0.7x, we believe the shares are overvalued versus the sector average of 0.5x.

For further details see:

CaixaBank: Merger Will Highlight Challenges Than Opportunities
Stock Information
Company Name: Bankia S.A ADR
Stock Symbol: BNKXY
Market: OTC
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