February 06, 2009

Deutsche Bank this week reported its first annual loss since World War II, with $4.8 billion of the $5-billion loss coming in the fourth quarter. This compares with $8.4 billion annual profit in 2007.

Frankfurt-based Deutsche Bank ($3.12 trillion in assets) is an acknowledged technology leader.

Deutsche is one of the first European banks to report 2008 results. Banco Santander Europe's biggest and the world's ninth-biggest bank, had earlier announced increased profits of $11.5 billion, up 9.4% on 2007. Madrid-based Santander has $1.23 trillion in assets.