“Spain’s troubled Bankia – formed of the merger of seven floundering savings banks – has reported a record loss. The bank, which received aid of 18bn euros, made a loss of 19.2bn euros (£17bn, $25.2bn) for 2012 and put aside provisions of 26.8bn euros. “
Source: BBC News – Bankia turns in record loss of 19.2bn euros for 2012