BayernLB said on Tuesday it expected a second straight loss of more than €1bn ($1.5bn) this year despite an improvement in 2009 for Germany’s second-largest public sector bank. The admission comes after BayernLB lifted Q3 risk provisions substantially and warned that its Austrian subsidiary, Hypo Group Alpe Adria, which is heavily exposed to south-eastern Europe, would report a significant loss for the year and require a capital injection.

This entry was posted by Gwen Robinson on Wednesday, November 11th, 2009 at 4:45 and is filed under Capital markets. Tagged with BayernLB, hgaa. Edit this entry.