Euskaraz irakurri: BBK Fundazioak Kutxabanken errotzea bermatu du, 231 milioi eurotik gorako erreserba funtsa eratuta

The bbk foundation has constituted the minimum objective volume of the reserve fund required by law to be able to maintain its control position in Kutxabank —with 57% of the shareholding—. According to Law 26/2013 on savings banks and banking foundations, BBK is obliged to create a reserve fund of more than 200 million euros to guarantee a possible rescue of the bank in the event of a need for capital. In the case of the Basque entity, the volume already exceeds €231 million.

The president of BBK, Xabier Sagredohas reported at a press conference in Bilbao that the banking foundation has finalized this endowment, which he has described as “great news” and has not hesitated to state that today is an “important day” for BBK, Kutxabank and for the entire territory.

BBK began the constitution of this fund in 2015, and since then and every year, it has been making contributions. The amount is recalculated annually as a result of applying a ratio that considers, among other parameters, the bank’s solvency level and that is applied to Kutxabank’s risk-weighted assets (APR).

The BBK Foundation, also known as BBK, is a banking foundation based in Bilbao. Its activity consists of the maintenance and dissemination of the heritage and social and cultural work inherited from the savings bank. Currently, BBK executes a social project with an annual budget of close to 35 million euros.

Source: Eitb

Alia

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