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Banco Popular to book additional loss of 240 mlns euros in 2016 - source
April 4, 2017 / 12:46 PM / 6 months ago

Banco Popular to book additional loss of 240 mlns euros in 2016 - source

MADRID, April 4 (Reuters) - Banco Popular will book additional losses of around 240 million euros in its 2016 results after an internal audit showed some accounting corrections had to be made, a source familiar with the matter said on Tuesday.

The hit will come on top of the record 3.5 billion-euro ($3.73 billion) loss it originally posted and will have a negative impact of around 50 basis points on the bank’s capital levels.

Banco Popular declined to comment. (Reporting By Jesus Aguado; Editing by Julien Toyer)

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