Arab Today, arab today greece\s nbg 2011 net loss €123 bn
Last Updated : GMT 00:43:26
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Greece\'s NBG 2011 net loss €12.3 bn

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Arab Today, arab today Greece\'s NBG 2011 net loss €12.3 bn

Athens - AFP

National Bank of Greece, the country\'s largest lender, said Friday it suffered a 2011 net loss of 12.3 billion euros ($16 billion) after taking a huge charge on a sovereign debt writedown. It said the loss on the writedown -- agreed with private creditors as part of a second Greek debt bailout -- was 10.75 billion euros, to which were added other provisions and charges due to \"the extremely harsh economic climate in Greece.

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