Arab Today, arab today spain\s bankia posts €19bn 2012 loss
Last Updated : GMT 18:56:35
Arab Today, arab today
Arab Today, arab today

Spain\'s Bankia posts €19bn 2012 loss

Arab Today, arab today

Arab Today, arab today Spain\'s Bankia posts €19bn 2012 loss

Madrid - AFP

Bailed-out Spanish banking giant Bankia suffered a loss of 19 billion euros ($25 billion) in 2012, it said in an earnings statement Thursday. Bankia, which has become a symbol of Spain's banking collapse, said the losses were in line with its expectations after the Spanish government nationalised it in May. In December it received 18 billion euros in eurozone aid to restructure it. Bankia's chairman Jose Ignacio Goirigolzarri said that despite the net losses of 19.193 billion euros the bank's financial situation was in line with its aims. "We have a very solvent balance sheet. We are a tremendously solvent and solid entity," he told a news conference. The European Commission approved the payment of 18 billion euros to rescue Bankia, obliging it to restructure by closing branches and cutting jobs. The bank has announced it will close a third of its branches. Unions say the restructuring will lead to 4,500 job cuts. A long recession brought on by the collapse of a building boom in 2008 left Bankia saddled with unpaid loans. In Thursday's earnings report BFA-Bankia, the financial group that includes the troubled lender, said it made provisions of 26.8 billion euros in 2012. It offloaded 22.3 billion euros' worth of bad property-linked assets to a "bad bank" set up to purge the bad loans of Spain's banks. Of this figure, 19.5 billion were from Bankia. After the government stepped in to rescue Bankia by nationalising it, Spain then had to seek a broader bailout for its whole banking sector from the eurozone. The recession has driven Spain's unemployment rate to 26 percent.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today spain\s bankia posts €19bn 2012 loss Arab Today, arab today spain\s bankia posts €19bn 2012 loss

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today spain\s bankia posts €19bn 2012 loss Arab Today, arab today spain\s bankia posts €19bn 2012 loss

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Italy regions back 'big bang' autonomy

GMT 07:10 2017 Monday ,23 October

Italy regions back 'big bang' autonomy
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel police detain 15 over campaign

GMT 14:19 2017 Monday ,23 October

Israel police detain 15 over campaign
Arab Today, arab today Maltese demand justice for murdered

GMT 06:08 2017 Monday ,23 October

Maltese demand justice for murdered
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla to build wholly-owned plant

GMT 07:55 2017 Monday ,23 October

Tesla to build wholly-owned plant
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Rogina happy for reactions to “The Flood”

GMT 09:30 2017 Friday ,20 October

Rogina happy for reactions to “The Flood”
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:07 2017 Sunday ,22 October

15,000 Under Fives Die

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday