Greece's Eurobank posts one-billion-euro loss in Q3 | Bangkok Post: news

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Greece's Eurobank posts one-billion-euro loss in Q3

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Greece's third-largest lender Eurobank on Thursday reported a net loss of 1.095 billion euros ($1.44 billion) over the first nine months of 2012, after writing off six billion euros to help the country reduce its sovereign debt. 

Women walk past a Eurobank branch in Athens on October 5, 2012. Eurobank on Thursday reported a net loss of 1.095 billion euros ($1.44 billion) over the first nine months of 2012, after writing off six billion euros to help the country reduce its sovereign debt.

As a result, Eurobank said it needed recapitalisation funds of 5.8 billion euros overall that are due from Greece's EU-IMF bailout deal.

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