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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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