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FRANKFURT, Germany (AP) -- IKB Deutsche Industriebank AG, hit badly by its exposure to the U.S. subprime lending crisis, postponed its second-quarter results Monday by two weeks. The Duesseldorf-based company had been scheduled to release the results on Nov. 15, but moved that back to Nov. 30 so it could take into account changes on its balance sheet that were recommended by PriceWaterhouseCoopers. Shares of IKB were down 1.9 percent to 14.12 euros ($20.46) in Frankfurt trading. In late September the bank reported first-quarter profits fell nearly 67 percent, to 12 million euros ($17 million), in the April-June period. IKB, which lends to small and medium-sized German companies, has received help from the state-owned KfW development bank and other banks to help protect it from exposure to subprime mortgage securities. IKB said in early September that it expected to lose up to 700 million euros ($1 billion) this fiscal year. In late July, IKB abandoned a profit forecast for the 2007-2008 fiscal year of 280 million euros ($406 million). It said it had "felt the impact of the crisis in the U.S. subprime mortgage market," and that its chief executive, Stefan Ortseifen, had resigned.
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