ECONOMY

Marfin Bank posts 2.5 bln euro loss on Greece

Cypriot lender Marfin Popular posted a record full-year net loss of 2.5 billion euros on Wednesday, hit by a writedown to its Greek sovereign debt holdings.

The bank said it had factored in a 60 percent impairment in the value of its Greek bonds, writing off some 1.9 billion euros in their nominal value.

[Reuters]