The bank’s first “Socioeconomic impact study”

Bankia’s activities generated a positive impact of €4.7 billion on

the Spanish economy in 2016

• The report, produced in collaboration with KPMG, equates this figure to

0.5% of Spanish GDP in 2016

• The bank sustained more than 47,000 jobs, of which 13,141 were direct
jobs and 33,900 were indirect or induced

• The bank’s activities generated €2.267 billion in supplier payments, of

which 662 million were direct payments

• The taxes paid and collected by Bankia during the period totalled €724
million, of which 160 million related to Social Security payments

Madrid, 23 August 2017. Bankia’s activities in 2016 generated a positive

impact of €4.7 billion on the growth of the Spanish economy, equivalent to 0.5%
of GDP, according to Bankia’s first Socioeconomic impact study 2016, which
was produced with advice from KPMG regarding application of the
methodology.

Of this amount, €1.447 billion was related to wage and salary payments, €2.267
billion was supplier payments, €724 million was taxes paid and collected, and
€259 million related to dividends distributed in Spain, which represented 81.7%
of the total amount paid.

The study, which measures the direct, indirect and induced impact of the bank’s
activities, states that the bank sustained more than 47,000 jobs, of which
13,141 were direct, 15,250 were indirect and 18,655 induced. Meanwhile, the
bank directly paid its employees more than €500 million in wages and salaries.

By region, in 2016 Bankia’s activities sustained more than 29,800 jobs in the
Region of Madrid, followed by the Region of Valencia (5,844), Catalonia
(3,280), Castilla y León (1,587), Castilla-La Mancha (1,410), the Canary Islands
(1,396) and La Rioja (538).

The taxes paid and collected by Bankia during the period totalled €724 million,
of which 160 million related to Social Security payments.
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The bank’s activities generated supplier payments totalling €2.267 billion, of
which 662 million were direct payments. Some 95.1% of this procurement was
made from national suppliers.

Bankia’s average supplier payment time was 10.4 days, meaning that 83% of
payments were made within the 60-day maximum legal period. Paying
suppliers promptly is a priority for the bank since this encourages the flow of
funds to society.

In terms of banking activity, the report shows that the bank granted more than
€14.7 billion in financing to large companies and €1.9 billion to SMEs and the
self-employed. Bankia also provided €9.9 billion in foreign trade support for
Spanish companies and financed nearly €1.36 billion in consumer credit for
Spanish households.

Contribution by social projects

The report also shows the contribution of the bank’s social projects that
promote the development and well-being of the beneficiary people and
communities. The analysis shows that €16.7 million was invested, primarily in
local development programmes, housing and employment, among other areas.

Its programs to support groups that find it hardest to find employment, such as
people over the age of 45 or young people searching for their first job, managed
to secure employment for more than 2,300 people with a placement ratio of
45%.

Calculation method

The input-output framework was used to measure Bankia’s contribution to the

Spanish economy. This statistical accounting instrument based on data from
the National Accounts helps to define the flows between different sectors of the
economy. This framework was used to estimate the impacts on GDP and
employment.

The direct impact is calculated taking into account the added value derived from
the bank’s expenditure on wages, salaries, supplier payments, distributed
dividends, and paid and collected taxes, among other factors.

The calculation of the indirect impact takes into consideration expenditure by

Bankia’s suppliers with their own direct suppliers, as well as the impact of

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expenditure by companies that benefit from consumption by the bank’s
employees on their own suppliers.

The induced impact is estimated from the economic repercussions on the rest
of the supply chain of supplier purchases and on the rest of the economy due to
the salaries of the bank’s professionals.
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