Deutsche Bank takes a beating after reporting 292m loss
The escalating crisis in the eurozone has taken its toll on Germany’s biggest bank as Deutsche Bank yesterday announced a 292m loss in the final three months of last year.
This compares with profits of 588m a year earlier. Pre-tax profits for the last full year were up 35pc to 4.5m.
Josef Ackermann is still set for a partially deferred 6.6m bonus
The bank said the debt crisis made customers shy away from riskier investments, particularly in the latter half of last year.
Departing chief executive Josef Ackermann, in line for a partially deferred 6.6m bonus, warned of a ‘social time bomb’ from wealth and social inequality.
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