Deutsche Bank takes €2.2bn hit on loans and structured credit
Deutsche Bank is the latest to fall prey to the credit squeeze as it announced billions of dollars in losses.
Deutsche will post a third-quarter pre-tax loss of €250m–€350m, on the back of €2.2bn in charges relating to leveraged loans, structured credit products and trading.
Josef Ackermann, Deutsche Bank chairman, was bullish in his response, claiming the bank was on course to meet its existing annual targets. “We see substantial opportunities in investment banking after this period of correction
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