MADRID (Reuters) - Spain on Monday requested formally the disbursement of 39.5 billion euros of European funds to recapitalise its crippled banking sector, the Economy Ministry said in a statement.
The money - 37 billion euros for the four nationalised banks Bankia (BKIA.MC), Catalunya Banc, NCG Banco and Banco de Valencia BVA.MC and 2.5 billion euros for the so-called "bad bank" - should be paid to the state's banking fund FROB around December 12, it added.
Euro zone finance ministers are expected to approve the disbursement later on Monday when they meet in Brussels for their monthly meeting.
(Reporting By Jesús Aguado; Editing by Julien Toyer)
Trending On Reuters
HCL Technologies Ltd, India's fourth-largest software services exporter by revenue, reported a 3.6 percent rise in quarterly net profit on Tuesday, lagging street estimates as margins dropped due to currency volatility. Full Article | Quote