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Hypo Alpe-Adria Bad Loans Top $11.8 Billion on Southeast Europe, Ditz Says

Hypo Alpe-Adria Bank International AG, the Austrian lender nationalized last year, may have more non-performing loans than previously reported because of depressed asset prices in southeast Europe, Vienna’s Format magazine said, citing an interview with Chairman Johannes Ditz.

"The sum may eventually climb a little more" from the reported 8.3 billion euros of bad loans, Ditz said, according to the report. The bank’s bad loans will be below 10 billion euros, Ditz told Format.

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To contact the editor responsible for this story: Jonathan Tirone at jtirone@bloomberg.net

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