2012.05.07 14:45:08 Portuguese Banks' Borrowing From ECB Falls In April To EUR55.43B

MADRID (Dow Jones)--Spain's Bankia SA (BKIA.MC) Monday said Chairman Rodrigo De Rato, a former Spanish finance minister and International Monetary Fund managing director, is resigning and has proposed a former Banco Bilbao Vizcaya Argentaria SA (BBVA.MC) executive as his replacement. In a press release, Rodrigo Rato said he is leaving his post "in the belief that this is the most convenient step" for Bankia. The Madrid-based bank, the result of a series of savings banks mergers, is widely considered one of Spain's weakest and has been the focus of continued media speculation in recent weeks. De Rato said he will propose the appointment of Jose Ignacio Goirigolzarri in his place. Goirigolzarri was BBVA's chief executive until 2009. -By David Roman, Dow Jones Newswires, +34 91 395 8127; david.roman@dowjones.com (END) Dow Jones Newswires May 07, 2012 08:47 ET (12:47 GMT)