Bankia, one of the most important banks in Spain, announced the culmination of its activities in Cuba, ending the liquidation of the Habana Financial Corporation (CFH), which operates in Iceland, EFE reported.
This company, created by Bankia in 1998, when the bank was renamed Caja Madrid, was destined to support the companies that invest in Cuba.
Caja Madrid company in October of this year agreed with the popular Bank of Ahorro (BPA), and constituted a company with a monetary capital of 5 million dollars, one 4.2 million euros in the current exchange, to assess companies españolas. This is the first entity to finance mixed capital in Cuba.
His objective is to support the companies that operate or establish his activity in Cuban territory, from the assessment of commercial operations or the inversion to financing, including operations of credit and credit, discount and decay of commercial effects, and operatives of exterior commerce, as indicated the property web page of the entity.
Through the Constitution of Bankia, Caja Madrid supports the group’s participation of 60% in the CFH, with a symbolic activity, and other inversions and distinct companies, such as the City National Bank of Florida, and the Spaniards Iberia, MAPFRE or Iberdrola.
The bank has not yet returned to the Cuban company, which has expired 20 years after being granted credit, it is due in October 2018.
When the case was settled, the Bank decided that it had taken the time to start liquidating the company, a process that had now culminated in the 2020 closing accounts.
The announcement does not go unnoticed by Cuban foreign investors, including all Spaniards, who have repeatedly called for the Cuban Gobierno demonstration to complement the payrolls of its utilities and honor the debts it accumulates with various companies.