Sal Oppenheim denies it needs extra capital - Spear's Magazine

Sal Oppenheim denies it needs extra capital

Sal Oppenheim, the largest independent German private bank, has moved to quash reports that it could require extra capital.

Sal Oppenheim, the largest independent German private bank, has moved to quash reports that it could require extra capital.

Co-owner Friedrich Carl Janssen, quoted by Handelsblatt newspaper, said the bank was not in any talks with Germany’s bank rescue fund about state help, saying, “We feel that we are in a comfortable position from the point of view of capital.”

The bank has made a number of investments that have been hit by the global credit crisis and downturn, including subprime banking casualty IKB and department store chain Arcandor.

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