Bloomberg News

German Bank Levy Proceeds Less Than Expected, Handelsblatt Says

November 27, 2011

Nov. 27 (Bloomberg) -- Proceeds from a German bank levy to finance future aid to the sector will amount to less than half of what the Finance Ministry expected, Handelsblatt reported.

About 1,160 of the country’s 2,000 banks, including Deutsche Bank AG, will pay nearly 600 million euros ($794 million) this year, compared with expectations of about 1.3 billion euros, Handelsblatt said, citing unidentified people close to the finance sector.

--Editors: Sharon Lindores, Mike Harrison

To contact the reporter on this story: Stefan Nicola in Berlin at

To contact the editor responsible for this story: Mike Harrison at

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