Munich - Ailing mortgage lender Hypo Real Estate (HRE) needs further capital injections from the German state after a loss of more than 5 billion euros (6.7 billion dollars) in 2008, chief executive Axel Wieandt said Sunday.
HRE had confirmed Saturday that the German government is to recapitalize the bank with an initial 8.7-per-cent share purchase.
Wieandt was not able to confirm how much capital the bank needed,
but said this was to be discussed with government bank bail-out agency SoFFin, which is expected to take long-term control to rescue the mortgage lender.