Gift is the German word for poison, and Hypo Real Estate, the troubled lender nationalized by the German government, is the gift that keeps on giving.

Hypo said Friday that it had lost another 395 million euros last quarter, a year and a half after the German government approved a measure that allowed Hypo to be taken over because of the systemic risk it posed.

The second-quarter loss at Hypo is a little over half as much as it lost for the comparable period a year before — 664 million euros — and it brings its losses for the year to 719 million euros. The government said in May that it had lost 5.3 billion euros on Hypo.

“Results were significantly affected by loan-loss provisions,” the bank said, adding that “net trading income was negative.” It expects a loss for the year.

“The year 2010 marks a period of transition, from stabilizing and restructuring, to achieving a realigned group structure,” Manuela Better, chief of the bank, said in the statement.

Hypo was nationalized after receiving 87 billion euros in loan guarantees from Berlin. The move was a first in the country since the 1930s Depression.

the American private equity firm, once held 24 percent of the lender, and it filed a complaint to the European Union after its holdings were wiped out.