Banco Madrid depositors seen recouping their money -Spain's bank fund

April 14, 2015 12:20 PM

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MADRID, April 14 (Reuters) - The 14,500 depositors with funds trapped in Banco Madrid, a subsidiary of Andorran lender Banca Privada d'Andorra (BPA) which last month entered insolvency proceedings, are set to recoup their money, Spain's bank rescue fund FROB said.

Even an additional 500 people who have holdings of more than the 100,000 euros ($105,630) covered by the rescue fund could recover the bulk of their money, the FROB's chief Fernando Restoy told a parliamentary hearing on Tuesday.

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