Spain’s BFA Reports Second-Half Loss of 278 Million Euros

Banco Financiero & de Ahorros SA, the parent company of Spanish lender Bankia (BKIA), had a net loss of 278.3 million euros ($368.3 million) in the second half of 2011, it said today in a filing.

The company had net income of 40.9 million euros for the full year. The bank was created last year when Bankia was formed by the merger of seven savings banks.

To contact the reporter on this story: Esteban Duarte in Madrid at eduarterubia@bloomberg.net

To contact the editor responsible for this story: Emma Ross-Thomas at erossthomas@bloomberg.net

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