Skip to comments.Bankia parent group BFA posts 2011 loss of 3.3 billion euros (was 41m profit!)
Posted on 05/28/2012 5:45:11 PM PDT by dynachrome
MADRID (Reuters) - BFA, the parent group of nationalized Spanish bank Bankia (BKIA.MC: Quote), said on Monday it had restated its 2011 results to reflect a 3.3 billion euro loss, rather than a 41 million euro profit, following a bailout from the state.
(Excerpt) Read more at ca.reuters.com ...
Youse guys might be interested in this.
“BFA last Friday asked for a public bailout of 19 billion euros ($23.8 billion) on top of an earlier cash injection of 4.5 billion euros.”
“Just a slight error in reporting.....”
They must have had geitner doing their accounting.
Three generations of deficit spending has squandered capital and has led to poverty. Bankruptcy is not pretty. Things will get ugly.
Simple rounding error.
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