VW Financial Services builds reserves for residual value declines

March 15, 2016 10:52 AM

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FRANKFURT, March 15 Volkswagen's financial services arm said it had set aside 353 million euros $391 million) in reserves mainly to cover potential declines in residual values on cars in its leasing fleet, in the wake of the diesel emissions cheating scandal.

Of this amount, 286 million euros are earmarked to deal with issues arising from the impact of the scandal, it said on Tuesday.

Also read: Deutsche Bank makes 278 million euros, strengthens buffers

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