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Real Estate Briefing - Categorized | Finance, Market Moves more

Failed property bets show Danish bank woes far from over

Posted on 28 January 2013

Denmark’s latest bank failure was caused by bad bets on commercial property, a model for insolvency that continues to dominate the nation’s financial woes, Jyske Bank A/S (JYSK) Chief Executive Officer Anders Dam said.
Dam, who agreed on Jan. 25 to take over Sparekassen Lolland A/S (SPALOL) after it failed to meet regulatory solvency requirements, won’t cover losses incurred by shareholders or subordinated creditors. Jyske has yet to calculate the final cost of the deal, he said in an interview………………………………………..Full Article: Source


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