KfW Sets Aside EU98 Million for Iceland-Linked Losses (Update1)

Posted 06/11/2008 - 16:31 by Anonymous

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2008-11-06 (All day)

KfW Group, Germany's government-owned development bank, has set aside 98 million euros ($125 million) for possible losses related to Icelandic investments.

German banks had $21 billion of outstanding claims with Icelandic residents as of the end of June, according to the Bank for International Settlements.