Deutsche Bank Profit Tumbles as Debt Crisis Curbs Trading
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Deutsche Bank AG, Germany’s largest bank, said fourth-quarter profit fell 76 percent, more than analysts estimated, as Europe’s debt crisis curbed trading and the company wrote down holdings.
The bank fell as much as 3.1 percent in Frankfurt trading after reporting net income of 147 million euros ($194 million), below the 556 million-euro average estimate of 12 analysts surveyed by Bloomberg. The investment bank posted a 422 million-euro pretax loss.