Dresdner to take further risk provision
Article Abstract:
Dresdner Bank AG told analysts that it will take another 500 million marks ($302.4 million) of provisions in the fourth quarter of 1998. In addition, company officials also said the company expects a comparable rise in provisions in the fourth quarter as had happened in the previous quarters of the year. With the additional provisions for the fourth quarter, Dresdner's provision will now total around 1.7 billion marks for 1998, an increase from 1.25 billion marks through the first nine months of the year. Dresdner's announcement prompted analysts to lower earnings estimates of the company for the year.
Comment:
Will take another 500 million marks ($302.4 mil) of provisions in the fourth quarter of 1998
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Munich bank under probe for bad loans. (Bayerische Hypo- und Vereinsbank)
Article Abstract:
Germany's state government prosecutors in Munich have opened investigation into bad mortgage loans made by the mortgage divsion of Munich-based Bayerische Hypotheken and Wechsel Bank AG. The bank took a charge of $2.08 billion to cover the bad real estate loans. Bayerische Hypotheken recently merged with Bayerische Vereinsbank AG to form the biggest bank in Germany.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
EU warns of deficit
Article Abstract:
The European Commission has determined that France did very little to reduce its budget deficit. This could bring heavy penalties to France, the second-largest economy in the European Union.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2003
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Hedge funds brace for regulation. American Pharmaceutical faces probe over cancer drug. Biovail is focus of an inquiry into kickbacks
- Abstracts: Rosy glasses need repair this season. Iceland prices 1 billion Euros bond
- Abstracts: Lenders lift Japan's prospects. Japan's banks get creative
- Abstracts: Allianz's net profit surges 34%. Allianz net profit bolstered by sale of stockholdings. German insurers to get stock-loss tax break
- Abstracts: Shell cedes control of pivotal Russian oil project: deal with Gazprom dims output, reserves prospects but eases Kremlin pressure