RealNews

Subprime-hit German bank IKB posts slightly higher full-year loss

The German bank IKB, which flirted with bankruptcy after the US subprime housing crisis erupted, posted Friday a full-year loss of 32 million euros (50 million dollars), slightly more than initially estimated. On July 3 the company had said that it expected its annual loss to come to 24 million euros owing to a favourable tax effect. Full Story

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