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Bankia won't rule out future strategic alliances, CEO says

Bankia SA's CEO would not rule out further strategic alliances in the future, but has nothing in sight for the moment, Europa Press reported Oct. 9.

The paper quoted José Sevilla as saying the bank wanted to develop further partnerships with other financial players to broaden its offering for customers and to help it specialize in certain products, noting that Bankia had entered into a partnership with Crédit Agricole SA for a consumer finance joint venture in Spain and with Mapfre SA over the sale of life and nonlife insurance.

"What we are looking at with these agreements is to complete our product offering to clients by teaming up with those we consider specialists," the paper quoted him as saying.