Germany's biggest bank Deutsche Bank AG reported today a record fourth-quarter loss and warned it faced tough economic and financial conditions in the months ahead, DPA reported. The Frankfurt-based bank's fourth-quarter net loss of 4.8 billion euros (6.2 billion dollars) compares with a profit of 953 million euros from a year earlier with its earnings taking a hammering from the turmoil that gripped global financial markets in the run-up to the end of 2008. This also helped to pave the way for the full year record net loss in 2008 of 3.9 billion euros, Deutsche said confirming figures released last month. "We are very disappointed at our fourth quarter result, and at the consequent full year net loss in 2008," said Deutsche Bank chief Josef Ackermann commenting on the earnings.
