Spain's Bankia loses 4.45 bn euros in first half of 2012 [1]

Google/AFP, August 31, 2012

Photo: Reuters

MADRID — Spain's rescued lender Bankia said Friday it had lost 4.45 billion euros ($5.6 billion) in the first half of 2012, prompting an immediate promise of state cash.

Created with fanfare in 2010 from a merger of seven troubled regional savings banks, and then listed on the market in July 2011, Bankia's fortunes have collapsed in dramatic style.

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