December 21, 2007

German state bank KfW faces 5-bln-euro subprime burden: report (AFP)

German state-owned bank KfW will carry a burden on its balance sheet of about five billion euros (seven billion dollars) until 2017 owing to trouble at subprime-hit lender IKB, of which KfW owns 38 percent, Der Spiegel has said.(AFP/File/Barbara Sax)AFP – German state-owned bank KfW will carry a burden on its balance sheet of about five billion euros (seven billion dollars) until 2017 owing to trouble at subprime-hit lender IKB, of which KfW owns 38 percent, a press report said on Friday.

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