Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Valovis Bank Rescued as Greek Debt Burden too Much to Bear, FAZ

Valovis Bank, owned by the employee trust of retailer KarstadtQuelle, was bailed out by a German guarantee fund after writedowns on its Greek debt holdings erased its equity, Frankfurter Allgemeine Zeitung reported today, without saying where it got the information.

Valovis Bank got 100 million euros ($125 million) in guarantees from the deposit guarantee fund after writedowns of 120 million euros on Greek debt left the bank with too little equity endangering the survival of the lender, FAZ said.

Press officers at Valovis weren’t immediately available to comment.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.