DB unveils Q1 losses

Deutsche Bank chalked up losses of €141 million for the first quarter of 2008, after digesting a €2.7 billion writedown on leveraged loan commitments, commercial real estate and residential mortgage-backed security exposures, the firm has announced.

Net revenues across several business lines declined dramatically during Q1 2008, with Deutsche’s corporate and investment banking arm seeing just €1.5 billion in turnover after posting revenues of €6.7 billion for the same period last year.

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