IKB swings to first-half loss of 398 million euros
0 Comments Published November 27th, 2009 in News.FRANKFURT (MarketWatch) — IKB Deutsche Industriebank AG reported Thursday a consolidated net loss of 398 million euros (3 million) for the six months between April 1 and Sept. 30. That compares with a net profit of 240 million euros in the same period a year ago. The half year-results came on the back of losses on the equity and liabilities side. The provision for possible loan losses increased by 103 million euros year-on-year to 210 million euros because of “the continuing poor economic situation.” IKB, a Dusseldorf-based lender that is going through a restructuring, suffered massive losses from the subprime crisis.
0 Responses to “IKB swings to first-half loss of 398 million euros”
Please Wait
Leave a Reply