Spanish bank's shares suspended

Page last updated at 02:54 GMT, Friday, May 25, 2012 - 07:54 EST

BBC:

All photographs come from the aforementioned news sources, and full copyright ownership is maintained by those sources. This site uses the images purely for reference to the original source and educational purposes, and does not profit in any way from their use.

It asked them to be suspended ahead of a board meeting this afternoon to reformulate its accounts for 2011 and submit a plan to shore up its finances.

The bank is reported to be due to ask the government for a bailout of more than 15bn euros ($19bn; £12bn).

Bankia, which is Spain's fourth-largest bank, was part-nationalised two weeks ago because of its problems with bad property debt.

Any extra government money would be on top of the 4.5bn euros in state loans that the government converted into shares in the group in the part-nationalisation process.

Shares in Bankia's parent company Banco Financiero y de Ahorros (BFA) have also been suspended.

Read the whole story: BBC