Deutsche Bank have posted a loss in the third quater and it starts to spell more trouble around the world as people fear a douple dip recession. It is the first major bank to show any signs of weakness for quite some time as deutsche bank along with many others, are normally very very strong even in bad times.
For Deutsche Bank the loss was as big as 1.2million euros. The main reason for the deutsche bank loss, is down to an unbelievable charge from postbank in Germany. The charge was absolutely huge, to the tune of 2.3 billion euros. Even though that as a big charge, if detusche bank cannot cover their operating charges, then it is proof that the economic recession has not fully recovered around the world.
As a result, the stocks in deutsche bank took a slight drop and until an official statement is made, it is thought the shares will continue to drop throughout the day. Deutsche bank are expected to make a statement to give some reasons and everyone appears to be speculating the whys.
Do you think the deutsche bank loss will affect the rest of the banking world? I certainly hope not as people are only just starting to spend money again. The only thing I can say for certain is watch the stock markets today, the deutsche bank shares will drop and you can grab yourself a guaranteed money making opportunity.