Spanish banking bailout fund books loss of 1.3 bln euros in 2015

June 22, 2016 4:34 PM

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MADRID, June 22 Spain's bank restructuring fund said on Wednesday it made a bigger loss of around 1.3 billion euros ($1.5 billion) in 2015, up from the previous year due to lower valuations of its stakes in several state-controlled institutions.

The FROB, which was created in 2009 to bail out distressed Spanish banks, said that lower valuations in BFA, parent company of lender Bankia, and Banco Mare Nostrum had a negative impact of 763 million euros and 144 million euros on its balance sheet respectively.

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