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Austrian state lender Hypo Alpe Adria loses 1.86 bln euros
April 16, 2014 / 4:27 PM / 4 years ago

Austrian state lender Hypo Alpe Adria loses 1.86 bln euros

VIENNA, April 16 (Reuters) - The net loss at nationalised Austrian bank Hypo Alpe Adria swelled to 1.86 billion euros ($2.57 billion) in 2013 from 23 million a year earlier as risk provisions and writedowns leapt to 1.66 billion euros, it said on Wednesday.

Hypo had said last week it expected to report a record net loss of about 1.9 billion euros for 2013 under IFRS accounting rules.

$1 = 0.7243 Euros Reporting by Michael Shields; Editing by Georgina Prodhan

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