Bloomberg News

German Banks May Need 5.5 Billion Euros of Capital, VOeB Says

October 24, 2011

Oct. 24 (Bloomberg) -- Germany’s banks may need to raise 5.5 billion euros as part of measures to recapitalize Europe’s banking sector, according to Christian Brand, president of the VOeB association of German public banks.

“What one hears is 5.5 billion euros,” he said at a press conference in Frankfurt today responding to a question on the capital needs of German banks.

To contact the editor responsible for this story: Nicholas Comfort at ncomfort1@bloomberg.net


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