THE head of Spain's fourth-largest bank, Bankia, has promised more transparency, a day after announcing huge losses and asking for a bailout.
Jose Ignacio Goirigolzarri told a news conference a full restructuring plan would be finalised by the end of June.
On Friday, the bank revised its 2011 results from a profit of $F698.7m (300m euro) to a $F6.94 billion(2.98bn euro) loss, and asked the state for $F44.2bn (19bn euro).
The Madrid stockmarket suspended trading in Bankia shares last Friday.
The bailout of Bankia would be the biggest of its kind in Spanish history and would largely nationalise the bank.
Mr Goirigolzarri said the bank would use the bailout money to clean up losses from loans made during the construction boom and protect against future losses.
In the news conference, he stressed how the bank had to look to the future and move on from the crisis.
“We are mindful that we will be managing a bank with public participation and will do so with all the professionalism, austerity and transparency we are capable of applying," he said, according to a transcript on Bankia's website.
The BBC's Tom Burridge in Madrid says the fear is that Spain's financial crisis and recession will continue, and more people will default on their mortgages.
Spanish banks, which lent heavily during the property bubble, are seen as particularly shaky as they now hold massive amounts of soured investments.
Shortly after the bank announced its huge losses, rating agency Standard and Poor's (S&P) downgraded the bank, along with four other lenders, to "junk"status.
The government had already intervened earlier this month and awarded Bankia a $F10.41bn (4.47bn euro loan).
Bankia had to reassure savers last week that their money was safe after a Spanish newspaper reported a run on the bank.