The Czech state-run factoring bank, Konsolidacni Banka, has announced a first quarter loss of 933million koruna which compares with a loss of 3.5bn for the same period in 2000. The bank reiterated statements that its loss for this year as a whole could grow to as much as 60bn koruna after tens of billions of koruna in bad assets from the failed IPB bank are transferred to its books later this year.
Source: NewsEdge
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