Followers | 241 |
Posts | 12150 |
Boards Moderated | 3 |
Alias Born | 04/05/2009 |
Monday, July 15, 2013 8:55:41 AM
By Nicky Redl
Germany's Commerzbank AG (CBK.XE) said on Monday it has sold U.K. commercial real estate loans worth around 5 billion euros ($6.5 billion) to a consortium made up of U.S. Wells Fargo and Lone Star Funds.
The sale will significantly improve the bank's risk profile and reduces its volume of non-performing real estate loans by EUR1.2 billion, said Germany's second-biggest lender.
The sale will reduce its risk-weighted assets by EUR1.5 billion but it will also create charges of EUR179 million in 2013, of which around EUR134 million will be booked in the second quarter.
The sale won't have a notable impact on the Core Tier 1 ratio of Commerzbank.
Commerzbank now expects the exposure at default, including non-performing loans, to be significantly less than EUR90 billion at the end of 2016, it added.
The sale involves the entire commercial real estate financing activities of Hypothekenbank Frankfurt in the U.K.
Write to Nicky Redl at nicky.redl@dowjones.com
http://online.wsj.com/article/BT-CO-20130715-702107.html?mod=WSJ_qtoverview_wsjlatest
"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International
Recent CRZBY News
- Commerzbank Gets Cyptocurrency Custody Licence • Dow Jones News • 11/15/2023 12:57:00 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM