After months of running from full disclosure of potential subprime exposure due to the acquisition of MortgageIT along with leveraged loans held at the end of 2007, Deutsche Bank earlier this month saw that it could not longer hide the mark-downs and write-downs and admitted that it expected to write down $3.9 billion. After initially fending off the subprime mess the bank now will probably post a first-quarter net loss of $272.3 million according to a survey by Bloomberg.
Germany’s biggest bank, may report its first quarterly loss in five years after writing down the value of loans for leveraged buyouts and asset- backed securities by 2.5 billion euros ($3.9 billion).
Deutsche Bank
said Friday it would be interested in acquiring the German activities of Citigroup Inc. (C) if the U.S. banking giant wanted to sell them.
So we are on the lookout for writedowns of $3.9 billion and a net Q1 loss of $272.3 million.
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