The core bank incurred a net loss of EUR 308.9m, up from EUR 81m in 2012, the bank said on Thursday.

Despite the steep loss, the bank posted a healthy EUR 133.1m in operating profit for the year.

Group net interest revenue was down a quarter to EUR 54.1m and net fees and commissions dropped by a tenth to EUR 29.1m.

Group total assets dropped 15.7% to EUR 3.05bn as deposits dropped by nearly 12% and outstanding loans to non-banking customers were down over 28% to EUR 1.8bn.

As at the end of the year the group's capital adequacy ratio stood at 9.5%.

Abanka was recapitalised with EUR 348m last year and nationalised.

Pending approval from the EU, the state expects to inject an additional EUR 243m in the bank.

Under the current scenario, Abanka will transfer EUR 543m-worth of non-performing loans to the bad bank, a process that is ongoing.