Reuters logo
2 years ago
Hypovereinsbank says fully provisioned against Heta bank debt
March 12, 2015 / 10:22 AM / 2 years ago

Hypovereinsbank says fully provisioned against Heta bank debt

MUNICH, March 12 (Reuters) - Germany's Hypovereinsbank on Thursday said it held bonds from Hypo Alpe Adria's "bad bank" Heta worth low triple-digit millions of euros, and that the bank had already made sufficient bad-debt provisions last year to cover it.

Hypovereinsbank, or HVB, is owned by Italy's UniCredit .

Regulators this month took control of Heta and imposed a debt moratorium until May 2016 after an outside audit found writedown needs that blew a 7.6 billion-euro ($8.05 billion) hole in its balance sheet. ($1 = 0.9440 euros) (Reporting by Andreas Kroener; Writing by Thomas Atkins; Editing by Georgina Prodhan)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below