Deutsche Bank, Germany’s biggest bank, said Thursday that one-off effects pushed it into the red in the fourth quarter of last year and led to a sharp drop in full-year profits.
Deutsche Bank said in a statement it ran up a loss of 2.167 billion euros ($2.9 billion) in the period from October to December, compared with a profit of 147 million euros a year earlier.
The loss was attributable to writedowns of 1.9 billion euros and litigation-related charges of 1.0 billion euros, the statement explained.
The fourth-quarter loss dragged down the bank’s bottom line for the whole of 2012, when net profit declined to 611 million euros from 4.132 billion euros the year before, the bank said.
One-off effects push Deutsche Bank into red in 4Q
