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German bankers happy with result
Middle East News.Net
Thursday 3rd July, 2008
German bank, IKB, which nearly went bankrupt after the US subprime housing crisis, has posted an annual loss of just 24 million euros.
The management had anticipated a loss of 200 million euros, but significantly lower deferred taxes have saved it from its pessimistic expectations.
The bank was one of the main victims in Germany of the collapse of the US market for high risk, or subprime, mortgages.
IKB had invested heavily in subprime instruments.
The business lender is now for sale, but has struggled to attract prospective buyers.
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campaign to improve corruption
07-03-08, 03:29 PM |
German bankers happy with result
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campaign to improve corruption
07-03-08, 03:40 PM |
Federal Government Sues Seattle
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campaign to improve corruption
07-03-08, 03:51 PM |
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