One-off costs push Deutsche Bank into red | Bangkok Post: news

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One-off costs push Deutsche Bank into red

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Deutsche Bank, Germany's biggest bank, said Thursday that writedowns and litigations costs pushed it into the red in the fourth quarter of last year and led to a sharp drop in full-year profits. 

People walk by the logo of German company Deutsche Bank at the bank's annual general meeting in the central German city of Frankfurt on May 26, 2011. Deutsche Bank, Germany's biggest bank, said Thursday that writedowns and litigations costs pushed it into the red in the fourth quarter of last year and led to a sharp drop in full-year profits.

Deutsche Bank said in a statement it ran up a loss of 2.167 billion euros ($2.9 billion) in the period from October to December, compared with a profit of 147 million euros a year earlier.

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