Deals
Hypo Real Estate Loss Narrows as Provisions Decline
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Hypo Real Estate Holding AG, the only German lender that failed the European Union’s banking stress test last month, reported a smaller second-quarter loss as it set aside less money to cover bad loans.
The pretax loss narrowed to 395 million euros ($509 million) from 664 million euros a year earlier, the Munich-based lender said in an e-mailed statement today. Provisions for risky loans declined to 194 million euros from 881 million euros.