Bankia (Spanish pronunciation: [ˈbaŋkja]) is a Spanish bank that was formed in December 2010, consolidating the operations of seven regional savings banks. Formerly a private bank, it was partially nationalized by the government of Spain in May 2012 due to the near collapse of the institution. In addition to the financial problems, the new management had to deal with controversies related to former managements. As of 2017, Bankia is the fifth largest bank of Spain with total assets of €190.2 billion. The bank is organised into six business areas: Retail Banking, Business Banking, Private Banking, Asset Management and Bancassurance, Capital Markets and Investees.