The president of troubled Spanish lender Bankia has said the €23.5bn bailout it will receive from the state should be treated as an investment to make profit for the Spanish government, and not as a loan.

The president of troubled Bankia tried Saturday to calm fears about the future of the bank, saying Spain’s second largest mortgage lender will emerge as a solid financial entity after it receives €19bn in state aid in the country’s biggest ever bank bailout.c

The board of directors of the troubled Spanish bank, Bankia, says it has agreed to ask for €19bn in state funds.

The board of directors of the troubled Spanish bank, Bankia, says it has agreed to ask for €19 billion in state funds.