Monday, July 30, 2007

KfW, the state owned development bank that owns 38 per cent of IKB, said it would step in and cover all potential losses in order to avoid a full-blown crisis

Subprime woes claim first German victim

IKB Deutsche Industriebank, the German bank for industry, on Monday became one of the biggest European casualties of the fallout in the subprime mortgage market as it ousted its chief executive and issued a profit warning.

Posted by chris :-)) @ 12:04 PM (481 views)
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