Published on Aug 31, 2012 by Euronews
http://www.euronews.com/ Nationalised Spanish lender Bankia has announced losses of 4.45 billion euros between January and June. That was worse than its total for the whole of 2011.
Immediately afterwards Spain's national bank-rescue fund said it will inject emergency cash into Bankia to keep it solvent. It did not say how much.
Illustrating how big Bankia's problems are, it is setting aside 2.7 billion euros to cover loans in just the second quarter that likely will not be repaid.
Bankia, which is Spain's fourth largest lender, was created by merging seven different troubled savings banks in 2010.
...Immediately afterwards Spain's national bank-rescue fund said it will inject emergency cash into Bankia to keep it solvent. It did not say how much.
Illustrating how big Bankia's problems are, it is setting aside 2.7 billion euros to cover loans in just the second quarter that likely will not be repaid.
Bankia, which is Spain's fourth largest lender, was created by merging seven different troubled savings banks in 2010.
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