Deutsche Bank Reports EU4.8 Billion Loss on Trading

Discussion in 'Stocks' started by ASusilovic, Jan 14, 2009.

  1. Deutsche Bank AG, Germany’s biggest bank, reported a loss of about 4.8 billion euros ($6.3 billion) in the fourth quarter after the worst financial crisis since the Great Depression pummeled its debt and equity trading results.

    The bank fell as much as 8.4 percent in Frankfurt trading. The loss, which compares with a profit of about 1 billion euros a year earlier, also reflects increased provisions for debt backed by bond insurers and “other exceptional gains and charges,” the Frankfurt-based bank said in a statement today.

    Deutsche Bank has “scaled back or exited trading strategies most affected by market turbulence,” Chief Executive Officer Josef Ackermann said in the statement. The German bank lost about $1 billion from bad bets involving bonds hedged by credit-default swaps in the quarter, plus $500 million trading equities, two people with knowledge of the matter said this week.

    Akki, you lose !
  2. And the little fuckers at BaFin still have restrictions until 31st March !!!!

  3. Ackermann: "Our German finanschial systim is mutch supperier to zhe Amerikan one!!"

  4. ROFLMAO ! :D :D :D
  5. BAFIN=Bundesanstalt für Infantile :)
  6. Any info if this gets lifted after March 31 or is this "forever" (it seems like)
  7. [​IMG]

  8. Most likely forever, Deutsche Bank is in really bad shape, donno whether its a matter of pride or what, but these guys should have gone same time as Lehman. Have a look at their "off balance sheet" deals/transactions.....

    Again FUCK BaFin !!!!

  9. moarla


    Deutsche Bank the only Investment Bank in the world without bailout monney :)
    #10     Jan 15, 2009