2020-06-27T21:30:01+00:00

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

Wirecard Headquarters, Aschheim Credit: Leo Molatore (Creative Commons Attribution 2.0)

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.

Sources: Content Sources

Source: MSN

Image Source

Leo Molatore (Creative Commons Attribution 2.0)

Pentributor:

Érico Andrei

@ericof

Co-founder of Pendect, passionate about open source and knowledge sharing. Made in Mooca.

Card reviewed by: @christoph

Categorization: Locations & Places

Germany

Organizations & Institutions

Wirecard
KfW

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