José Antonio Delgado Manzanares was the Bank of Spain inspector in charge of supervising Bankia before and after its listing on the Stock Exchange in July 2001. Today, in the trial that follows the placement in the markets of the financial institution, has declared as a witness that Bankia debuted on the market with "incorrect information, which did not reflect reality, and with disguised delinquency ».
Delgado, also noted by some as "the rebel inspector" of the Bank of Spain, has explained that «Caja Madrid was a dying man, but Bancaja was a dead man» and that the initiative to merge different savings banks to create Bankia was something like «Make up the dead». Inspector Delgado Manzanares has detailed in his statement a meeting held on March 6, 2012 between representatives of the Bank of Spain and Rodrigo Rato, president of Bankia. On that occasion, according to Delgado, the inspectors of the Bank of Spain informed Rato that BFA (Financial and Savings Bank) was non-viable and that «He recognized him». BFA was the parent of Bankia, the holding company of most of its shares, with an income statement linked to the entity chaired by Rato, but different. A nuance, subtle, but important. Maybe that's why, the next day, March 7, 2012, at another meeting attended by the CEO of Bankia, Francisco Verdú, the latter would have admitted – always according to Delgado – that "I agreed that BFA was unfeasible and that Bankia was going to make losses."
Delgado followed closely, as inspector of the Bank of Spain, the evolution of Bankia between 2011 and 2013, once executed the rescue and sanitation, and with José Ignacio Goirigolzarri at the head of the entity. Delgado forms a team together with José Antonio Gracia. Both were part of the so-called Group 6 of the Inspection of the Bank of Spain, which reported directly to José Antonio Gracia, his immediate superior. Gracia, also according to Delgado, agreed with his two subordinates in the opinion they had of Bankia, as was recorded in the emails sent to him and that he referred to his immediate superior. From there, Delgado ignores what happened with his reports and opinions at the Bank of Spain, at the time when the governor was the socialist Miguel Ángel Fernández Ordóñez. The prosecutor Carmen Launa has asked that these emails, which point to the previous heads of the Bank of Spain, join the cause – something that in theory would benefit the accused and blame Fernandez Ordóñez and his team, but the president of the Tribune , Ángela Murillo, has rejected the request.
Delgado believes that Bankia, with Rato de presidente, was self-deceived. It has alluded to the accounting of 20,000 million euros as normal investment, but that in fact it was working as "land, that is to say, disguised delinquency" and that was one of the reasons why, after the departure of Rato, the team of Goirigolzarri had to reformulate the accounts.