Deutsche Bank Warns of Anticipated Year-End Losses Following Disastrous Fourth Quarter

Deutsche Bank has warned that they anticipate a fourth quarter loss of an estimated $6.4 billion, a figure that will erase any profits made over the first three quarters and leave them at a year-end loss of more than $5 billion.

The bank blamed “exceptional market conditions” for the anticipated fourth quarter numbers, conditions that left many financial institutions across the globe in ruins.

While the fourth quarter erased any profits that had been gained Chairman Dr. Josef Ackerman remained optimistic about correcting what he called “weaknesses in our platform” saying, “we have determined a number of measures to address these weaknesses.”

The full-year earnings are set to be released on Feb. 5.

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