Sat. Mar 28th, 2020

Bankia rejects that the ruling of the Supreme Court on mortgages has retroactive effect – The Province

Bankia rejects that the ruling of the Supreme Court on mortgages has retroactive effect - The Province

The president ofBankia,José Ignacio Goirigolzarri, said yesterday that Spanish banks will abide by any decision adopted by theSupreme Courtnext Monday on who should pay the tax ofdocumented legal actswhen a mortgage is signed, but it was contrary to the fact that a change of criteria may have retroactive effects. He argued that Spanish banks have moved on this issue "in good faith" and within the framework established since the nineties the legislation, which assigned the payment of that tax to the applicant of the mortgage, and have behaved "like a citizen responsible "and" disciplined. " This tax is not part of the clauses of the contract that formalizes the mortgage but of the application of the tax regime and "what is certain is that we have not benefited from any income because the payment of the taxpayer has gone directly to the Treasury".

Therefore, Goirigolzarri believes that if the bank has acted in good faith complying with the law"there is no place for retroactivity". If the Supreme Court finally considers that it is necessary to change the legislation and modify what has been done up to now, it will be respected by the financial entities, but such a decision "should not affect the past". In this regard, he gave as an example the possibility with which it would occur if today the maximum speed of circulation in Spain were reduced and a driver was fined for having passed it a few years ago.

On the other hand, Bankia considers that the deceleration that is occurring in the growth of the Spanish economy "is not alarming", but responds to the scenario that different analysis services and also its own entity already foreseen after several years with advances in thePIBgreater than 3%. Goirigorzarri has played down the importance that the gross domestic product (GDP) of Spain will grow next year slightly less than now (according to forecasts Bankia,2.5% in both 2018 and 2019). "This process of deceleration is due to several reasons: that the Spanish economy was growing above its potential since until now it was benefiting from a series of very positive factors, such as a very low oil price, a very monetary policy lax and a growth of the world economy very balanced and important, "he argued in a meeting with journalists in the capital of Gran Canaria.

The management of Bankia believes that the judgments that former bank executives have pending decisions prior to the entry of the State into its capital in 2012 will not damage the image of your company, because its customers "distinguish very well the past of the present" . For the president of the entity, "if we speak in terms of image, I believe that they do not affect our business conditions, because society and our customers differentiate very well the past and the present from the management perspective", he has argued after the imprisonment of his predecessor in office,Rodrigo Rato, and with the pending trial for Bankia's IPO in 2011.


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