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

Banco Financiero & de Ahorros SA, the parent company of Spanish lender Bankia, 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.

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