Bankia, the Spanish lender whose property losses pushed Spain to seek a bailout for its banking industry last year, posted a nine-month profit of €362m on lower impairment charges.

Spain’s bailed-out Bankia has posted a full-year net loss of €19.2bn, the biggest ever suffered by a Spanish company, after the lender cleaned up its balance sheets of bad property loans and other risky investments.

The president of troubled Bankia tried Saturday to calm fears about the future of the bank, saying Spain’s second largest mortgage lender will emerge as a solid financial entity after it receives €19bn in state aid in the country’s biggest ever bank bailout.c

Hoping to put an end to a four-year banking crisis, the Spanish government effectively took over Bankia SA, one of the country’s biggest banks, after days of market anxiety over its viability.