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Spain's "bad bank" SAREB reports €261 mln loss for 2013

Source: Reuters - Thu 27th Mar 2014
Spain's 'bad bank' SAREB reports €261 mln loss for 2013

Spain's "bad bank" SAREB - where Spanish lenders transferred around €50 billion of real estate assets as part of their efforts to clean up balance sheets, on Thursday reported a €261 million loss for 2013.

SAREB said earnings before interest, tax, depreciation and amortisation (EBITDA) were €1.2 billion.

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