German development bank could lose 100 mln euros from Wirecard insolvency

FRANKFURT (Reuters) - Germany's state development bank KfW could lose 100 million euros (90.9 million pounds) after payments company Wirecard filed for insolvency, a spokesman said on Saturday.KfW subsidiary Ipex Bank lent Wirecard the sum two years ago, Boersen Zeitung newspaper first reported. The funds were fully drawn down but were not hedged by Ipex, the KfW spokesman confirmed on Saturday."Ipex threw 100 million euros into the fire," the KfW spokesman, who declined to be named, told..