A squeeze on lending to home buyers and businesses that followed the US subprime crisis has shown slight signs of easing in the last three months, the European Central Bank said on Friday.
Commerzbank, the second-biggest German bank, posted on Wednesday a gain in second-quarter net profit, owing to a favourable tax effect, along with a plunge in operating earnings.
The credit crisis has failed to shake Germans’ trust in their banks, according to a survey published on Saturday in the <I>Berliner Zeitung</I> newspaper.
The German bank IKB, which flirted with bankruptcy after the US subprime housing crisis erupted, on Thursday posted an annual loss of just €24 million ($38 million) due to a favourable tax effect.
German Chancellor Angela Merkel wants Continental Europe to have a greater role in regulating global financial markets because Anglo-Saxon efforts have failed, the <i>Financial Times</i> reported on Wednesday.
Four bidders are interested in buying German bank IKB, which has reported a nine-month loss of about €1 billion ($1.57 billion), a spokesman for its dominant shareholder KfW told AFP on Wednesday.
Deutsche Bank, Germany's biggest bank, is in talks to buy the German subsidiary of US banking giant Citigroup, Citibank, <i>WirtschaftsWoche</i> magazine reported on Friday.
German President Horst Köhler has attacked banks for allowing global financial markets to become a "monster" that nearly caused a "collapse" as a result of the US subprime crisis.
Germany's biggest bank, Deutsche Bank, dropped earnings targets for 2008 after posting its first quarterly loss in five years on Tuesday as a result of the global credit squeeze, writes AFP's Laure Fillon.
German financial markets regulator BaFin has uncovered enough evidence of insider trading at troubled business lender IKB to ask for a criminal investigation, the <i>Wall Street Journal</i> reported on Wednesday.
DĂĽsseldorfer Hypothekenbank has become the latest German bank to run into trouble amidst the global financial market crisis, the German banking association BdB said on Tuesday.
Six leading German economic institutes issued an upbeat outlook for Europe's largest economy on Thursday, forecasting 1.8 percent growth for 2008, easing inflation and all but ruling out a recession.
Saxony’s embattled premier Georg Milbradt has resigned amid mounting criticism of the Christian Democrat’s seemingly hapless leadership of the eastern German state.
German Chancellor Angela Merkel welcomed on Sunday moves by banks towards greater self-regulation following the subprime credit crisis, saying people should have heeded Berlin's warnings last year.
German officials struck a positive note on their country’s economic performance at Friday’s G7 meeting in Washington, saying there is no cause for doom and gloom.
Will German taxpayers foot the bill for bank errors exposed by the international subprime lending crisis? Such fears are rising after another public financial institution unveiled a bail-out this week.
Germany's second-biggest regional state bank reported on Thursday a massive hit from the global credit crunch and said it was putting together a €6-billion ($9.4-billion) rescue package.
German Finance Minister Peer SteinbrĂĽck believes that repercussions of the global financial crisis from subprime lending will be felt well into next year, according to comments published on Thursday.
The German regional state bank WestLB posted on Wednesday a 2007 net loss of €1.6 billion ($2.5 billion) as a result of the US subprime lending crisis and stock trading losses.
Deutsche Bank, Germany's largest bank, unveiled more asset writedowns linked to the subprime lending crisis on Tuesday, but the amount paled in comparison to one announced by Swiss bank UBS.
Directors of distressed German business lender IKB faced furious shareholders on Thursday who voiced anger over the management of one of the country's biggest US subprime market victims.
