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Aug 24, 2009

Germany yet to learn the lessons of IKB

IKB Deutsche Industriebank, the Mittelstand bank that almost collapsed two years ago due to its huge exposure to American sub-prime mortgages, is on the road to recovery.

The bank — now owned by Lone Star, an American private equity firm — on Monday reported first-quarter (April to June) profits of 19.4 million euros against a 517 million euro loss last time.

    • About Margaret

      "Margaret Doyle is a Reuters Breakingviews columnist, based in London. She writes about investment banking. She has been a journalist for over 14 years. She has written for The Daily Telegraph and The Economist and presented various radio programmes for the BBC. She began her career as a consultant at McKinsey & Co. She has an economics degree from Trinity College, Dublin and an MBA from Harvard Business School, which she attended as a Fulbright scholar. She is a Conservative Member of Westminster City Council."
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