TITLE

US subprime writedowns hit Eurohypo's Q2 profit

AUTHOR(S)
Cate, Bert Erik Ten
PUB. DATE
September 2008
SOURCE
EuroProperty;9/1/2008, p19
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Eurohypo witnessed a second-quarter loss following further U.S. subprime write-downs. The German lender posted a second-quarter net loss of €138 million after writing down its U.S. investment portfolio. The downturn in Europe and the U.S. is said to have severely hampered business opportunities. It is stated that by contrast, rival lenders Aareal Bank and Hypo Real Estate posted second-quarter profits.
ACCESSION #
34599548

 

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