Royal Bank of Scotland Group Plc, Commerzbank AG of Germany andFrance's Credit Agricole SA booked losses on their Greek governmentdebt two days after creditors agreed to the biggest sovereignrestructuring in history.

RBS, Britain's biggest government-owned lender, posted awider-than-expected full-year loss after taking a sovereign-debtimpairment of 1.1 billion pounds ($1.7 billion). Commerzbank,Germany's second-biggest lender, booked a 700 million-euro ($1.1billion) writedown on Greek debt in the fourth quarter. CreditAgricole, France's third-largest bank, reported a quarterly lossafter 220 million euros in impairments on Greek debt.

Dexia SA and Allianz SE also announced Greek writedowns today.The nation's private creditors agreed to a debt swap on Feb. 21,paving the way for a second bailout and averting what Deutsche BankAG Chief Executive Officer Josef Ackermann said would have been a“meltdown” worse than the collapse of Lehman Brothers HoldingsInc.