Bankia revises target to return 2.5bn euros to shareholders due to coronavirus

• The European Central Bank said that euro zone banks struggling with the consequences of the coronavirus.

MADRID: Spain's Bankia on Friday said it will revise its dividend distribution target to return 2.5 billion euros of excess capital to shareholders that was part of its three-year strategic plan to deal with the economic impact of the coronavirus.

On Friday, the European Central Bank said that euro zone banks struggling with the consequences of the coronavirus outbreak should be prudent when deciding whether to pay a dividend so as to avoid needing fresh capital later.