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Deutsche Bank reports euro4.8 billion 4Q loss
Deutsche Bank says it lost euro4.8 billion in 4th quarter as economic downturn intensified

Associated Press
January 14, 2009

BERLIN (AP) -- Deutsche Bank AG, Germany's biggest bank, said Wednesday it lost an estimated euro4.8 billion ($6.4 billion) in last year's fourth quarter as the global downturn weighed heavily on its bottom line.

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Shares fell sharply after the announcement, down 8.9 percent to euro22.11 in Frankfurt.

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Deutsche Bank so far has not made use of the rescue fund, which has a total value of up to euro500 billion, and Ackermann said in a conference call with analysts and reporters that "we have absolutely no intention and no need" to ask for government help.

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