Sept. 24 (Bloomberg) -- HSH Nordbank AG, the only state- owned German bank partially owned by private investors, said it booked 500 million euros ($734 million) in writedowns in the third quarter as the financial crisis worsened.

The markdowns included about 120 million euros related to the collapse of U.S. securities firm Lehman Brothers Holdings Inc., the Hamburg-based company said in a statement on its Web site today.

To contact the reporter on this story: Aaron Kirchfeld in Frankfurt at akirchfeld@bloomberg.net.

Last Updated: September 24, 2008 04:19 EDT