Bankia parent group BFA posts 2011 loss of 3.3 billion euros
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.
In a statement to the stock exchange regulator, BFA said the restated loss reflected a review of its loan portfolios and capital needs after a new audit and as part of the clean-up plan implemented by the government.
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.
(Reporting by Jesus Aguado,; Editing by Julien Toyer and Sarah Morris)
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