Who loses money in the MORTGAGE CRISIS??? - News about real estate, Kiev, Kyiv region. Real Estate In Ukraine
Thus, total losses for the financial institution associated with the mortgage, exceeded...Germany's largest Bank lost in the mortgage crisis $ 11 billionGermany's largest Bank Deutsche Bank in the second quarter of 2008 due to the mortgage crisis written off assets valued at 2.7 billion euros (3.6 billion dollars), reports BBC News. Thus, total losses for financial institutions related to mortgage, exceeded 7 billion euros ($11 billion). Most of the withdrawals occurred in bonds secured by mortgage loans.Despite the write-off of assets, the profit of Deutsche Bank in the second quarter amounted to 642 million euros ($1 billion). In the same period last year, the credit institution has obtained a profit of 2.7 billion euros (4.2 billion dollars). Thus the profit of the Bank during the past year decreased by 76.2%.The cause of the mortgage crisis that has caused the most damage to the global banking system in early 2008, were the defaults on loans granted by banks unreliable borrowers.