Bankia held a shareholder meeting yesterday in Valencia. It was dominated by complaints from people holding converted preferential shares, although the meeting also revealed that the bank will not have to ask for capital revisions beyond the 24.5 billion that it has already received.
Preferential shareholders will likely get an arbitration to resolve their complaints, which is a good option that many lawyers are lobbying for becuase it will get them in court and score them paid work.
Bankia responded by extending the deadline for people to submit a claim to July 15.
Preferential shareholders aside, the bank is laying the foundation for a new era that should be marked by increased profitability.
