Author: 123jump.com Staff
123jump.com
Last Update: 10:07 AM EDT May 01 2008
Germany’s biggest bank Deutsche Bank recorded a loss for the first time in five years The bank reported a loss of €141 million (or $220 million) in the latest quarter, compared to a profit of €2.1 billion a year ago. Pretax earnings declined to a loss of €254 million versus a €3.2 billion profit in 2007. The management explained that Deutsche Bank had been forced to write down €2.7 billion in the value of assets.
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