Gib's Son
02-05-2009, 02:37 PM
that taking money from the Govt. means they own ya.
Germany's biggest lender, Deutsche Bank, on Thursday posted its first annual loss since World War II after a terrible fourth quarter but said it would survive the global meltdown without state aid.
Chairman Josef Ackermann said the bank did not require government assistance and would pull out of the financial crisis on its own.
Deutsche Bank reported a net loss of 3.9 billion euros (5.0 billion dollars) for 2008 after a massive loss of 4.8 billion euros in the fourth quarter alone.
For 2007, Deutsche Bank have posted a record profit of 6.5 billion euros.
While other major German banks have benefited from a government rescue plan for the sector, Ackermann told a press conference: "We want Deutsche (Bank) to succeed in pulling out of this crisis by itself."
Germany's biggest lender, Deutsche Bank, on Thursday posted its first annual loss since World War II after a terrible fourth quarter but said it would survive the global meltdown without state aid.
Chairman Josef Ackermann said the bank did not require government assistance and would pull out of the financial crisis on its own.
Deutsche Bank reported a net loss of 3.9 billion euros (5.0 billion dollars) for 2008 after a massive loss of 4.8 billion euros in the fourth quarter alone.
For 2007, Deutsche Bank have posted a record profit of 6.5 billion euros.
While other major German banks have benefited from a government rescue plan for the sector, Ackermann told a press conference: "We want Deutsche (Bank) to succeed in pulling out of this crisis by itself."