Bendine said a writedown
is to be expected in fourth-quarter audited results which Petrobras must provide the market by the end of June or face default on more than $50 billion of bonds.
came after the Portuguese central bank resorted to measures that effectively wiped out certain Banco Espirito Santo SA creditors.
on its soon-to-be sold Cheuvreux brokerage, its Italian consumer credit business, Spain's Bankinter, and losses on its own debt, the bank slumped to a quarterly loss of 2.
We were prudent to take writedowns
in Q3, so there will be no overhangs in 2012," Sheikh Maktoum bin Hasher Al Maktoum told Reuters.
Auditors insisted on the writedowns
after the euro zone's bailout of Greece.
Excluding net writedowns
and recoveries on the sale of securities, other non-interest income for fiscal 2009 decreased 5.
for the nine months to 30 September 2008).
In April Schroders said it had taken an unrealised mark-to-market writedown
of pounds 25.
9bn credit crunch writedown
when it launched the rights issue in April.
9 billion second-quarter loss, hit by $9 billion of writedowns
in that period.
LONDON: Royal Bank of Scotland's board is due to meet this weekend to discuss writedowns
as high as [pounds sterling]7 billion ($14bn) and a rights issue of as much as [pounds sterling]12bn, people familiar with the matter said yesterday.
Credit Suisse bank reported its first quarterly loss in five years this April on the back of new writedowns
of SFr 5.
The fourth-quarter, after-tax charge includes writedowns
to reflect the shrinking value of oil holdings in the Middle East, North Africa and the North Sea.
Further, if companies are required to consider writedowns
annually for a large number of assets (or asset groups), the yearend burden on both internal staff and external auditors could increase substantially.
The company attributed the loss to reduced royalty and interest revenues combined with asset and property writedowns