Business • Economy

German development bank KfW could lose €100 million from Wirecard insolvency

KfW, Germany’s state development bank, could lose €100 million euros after Wirecard filed for insolvency last Thursday.

Ipex Bank, a KfW subsidiary, granted Wirecard the sum over a credit line two years ago and the funds were fully drawn down but were not hedged by Ipex.

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Card reviewed by: @christoph