As well as paying €294.4-million as a criminal fine, the bank will also hand over 400,000 euros in civil damages to the Belgian state.

African Bank, South Africa’s largest provider of unsecured loans, has posted a loss for the fiscal year through September.

Bank rescues spread in Europe on Tuesday and some investors expressed faith that the US Congress would eventually pass a -billion bailout plan.

US presidential candidate Barack Obama urged lawmakers on Tuesday to return to the negotiating table to work on a financial rescue deal.

Microsoft chief executive Steve Ballmer said on Tuesday no company was immune to the global financial crisis.

The central banks of Japan and Australia hosed more cash at their banks to persuade them to resume lending to each other after bank failures.