Madrid: Spanish state-owned lender Bankia reported a fourth-quarter loss of €235 million ($292 million; Dh1.07 billion) on Monday, blaming one-off restructuring costs after its acquisition of smaller lender BMN. Seeking to boost its earnings following a quick recovery from its €22.4 billion bailout in 2012, Bankia agreed in June to acquire smaller lender BMN to create the country’s fourth-biggest bank. When it originally announced the tie-up, it said it expected restructuring costs of around €300 million mainly due to layoffs and closure of branches. However, it reported restructuring costs of €312 million in the fourth quarter.