Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Spain's Liberbank posts loss of €1.8 bln

Source: Reuters - Mon 22th Apr 2013
Spain's Liberbank posts loss of €1.8 bln

Spanish bank Liberbank made a net loss for 2012 of €1.83 billion, adding to losses chalked up by Spain's rescued lenders.

Mid-sized Liberbank, which like its rivals was hit hard by a property market crash, has survived being directly taken over by the state, which has fully nationalised 4 lenders. But it received €124 million of EU funds and is due to list in May on the stock exchange as a condition of the state funding.

Small and mid-sized lenders in Spain have posted multi-billion euro losses for 2012 after making huge write-downs on bad property loans and assets.

The figures highlight the scale of the country's problems with its shaky property market.