Hints and tips:
Theodor Weimer replaces Carsten Kengeter who resigned amid an insider trading probe
...Munich ordered Heta to pay BayernLB €2.3bn plus interest in a dispute over €2.4bn that the German lender provided to Hypo....
...Since late 2012, BayernLB and its Austrian counterparts have become embroiled in a dispute over €2.4bn which the German lender provided to Hypo. BayernLB says this was a loan....
...BayernLB reported a €1.32bn loss after a writedown in connection with its exposure to Heta, the so-called bad bank set up to deal with the stricken Austrian lender, Hypo Alpe Adria....
...Hypo Alpe Adria was nationalised and sold to the Austrian government in 2009 for one euro....
...Under an agreement struck in 2009, Bayerische Landesbank, the German bank, which owned Hypo before it was nationalised and still has €2.3bn of liquidity in the Austrian lender, has to agree to any changes...
...Insiders at NordLB point to Bayern’s botched purchase of Austrian bank Hypo Alpe Adria. Every bank argues that at least they are not HSH....
...Bigger mandates would follow, including two German bank deals: the mergers of Bayerische Vereinsbank and Bayerische Hypotheken-und Wechsel-Bank, and of Bankgesellschaft Berlin and Norddeutsche Landesbank...
A round-up of the latest moves in the fund management industry
...Bayerische Landesbank, the Bavarian state bank, had become the majority shareholder of Hypo in 2007....
...European Union antitrust officials are expected to sign off on the restructuring of Germany’s Hypo Real Estate today, in one of the biggest bank downsizings to result from the financial crisis....
...Hypo Alpe-Adria, formerly owned by Bavaria’s Bayerische Landesbank and the province of Carinthia (Kärnten), is the costliest holding for the government....
...BayernLB’s losses were magnified by a disastrous investment in Hypo Group Alpe Adria, an Austrian bank that was to have been a beachhead for international expansion....
...BayernLB was Germany’s most profitable Landesbank last year, making net income of €635m after a €2.6bn loss in 2009 when the bank ceded control of Hypo Group Alpe Adria, a crisis-hit Austrian subsidiary,...
...Santander Consumer Bank AG is already a leading provider of auto finance and consumer loans in Germany, with 6m customers....
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