Money | credit crisis Deutsche Bank Posts $220M Loss—First in 5 Years German bank loses $220M on billions in writedowns By Jason Farago Posted Apr 29, 2008 6:41 AM CDT Copied The headquarters of Germany's biggest bank, Deutsche Bank in Frankfurt, Germany, is seen in this Dec. 10, 2004 picture. (AP Photo/Michael Probst) Deutsche Bank posted its first quarterly loss in 5 years today, reflecting the impact of the credit crisis on its investment banking activities. Germany's largest bank reported a net loss of $220 million and admitted that the short-term outlook for the firm remained highly uncertain. Deutsche also took $4.2 billion in writedowns, writes the Financial Times. Josef Ackermann, Deutsche's CEO, called the quarter "the most difficult in recent memory," as revenues from the bank's trading operations plunged. Although losses were severe, they were lighter than outside observers had estimated, and more "stable" sectors, such as private asset management, remained profitable. Shares in the bank were down 1.2% this morning in Frankfurt. Read These Next Arizona governor wants answers on Grand Canyon fire. Farmer killed by water buffalo a day after he bought them. New Powell move may be attempt to blunt Trump criticism. Obama tells Democrats to 'toughen up.' Report an error