Bankia covered up its financial state before going public
Spain's fourth-largest bank, Bankia
Madrid - SPA
Spain's fourth-largest bank, Bankia, cooked its books as it prepared to go public in 2011 and presented data that did not accurately reflect its financial standing, Spain's central bank said Thursday, dpa reported.
Bankia exaggerated the capital it held for its 2011 listing and concealed billions of euros in losses in 2012, said the Bank of Spain report, which was presented to an investigative judge.
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