Hypo sees 'high triple digit million' writedown

FRANKFURT, June 22 (Reuters) - Stricken real estate bank Hypo Real Estate HRXG.DE said late Monday profits will take a at least a "high three digit million" hit in the second quarter as real estate loans continue to turn sour.

The bank said it will shed 1,000 jobs and restructure as it sets aside more funds for problem real estate loans in North America, Southern Europe and Great Britain.

Hypo Real Estate, Germany's highest-profile casualty of the financial crisis, has been propped up with more than 100 billion euros in capital and guarantees, most of which was provided by the German state.

The bank is in the process of being nationalised with the German government currently in control of more than 90 percent of the company's shares.

The Munich-based lender will publish its second-quarter report on Aug. 7 and has said it expects to remain in a loss situation at least for the years 2009 and 2010.

As part of a restructuring drive, the company said it is examining possibilities for offloading significant portions of its problem assets to a separate bank. (Reporting by Edward Taylor; Editing by Steve Orlofsky)