deutsche-bank-posts-62-billion-fourthquarter-loss

Deutsche Bank posts $6.2 billion fourth-quarter loss

The fourth quarter decline contributes to the bank's first annual loss in more than 50 years.

Deutsche Bank, the biggest German bank, reported on Thursday a net loss of €4 8 billion in the fourth quarter, or $6 2 billion, compared with a profit of €953 million in the same period a year earlier, which was in line with its pre-announcement on January 14

The bank said it had made a net loss of €3 9 billion for all of 2008, its first annual loss in more than 50 years

"We are very disappointed at our fourth-quarter result, and at the consequent full-year net loss in 2008," chief executive Josef Ackermann said in a statement yesterday "Operating conditions in the quarter were completely unprecedented, and exposed some...

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