Deutsche Bank posts quarterly profit of $1.8 billion, bolstered by tax benefits

The Associated Press ~ staff The News
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FRANKFURT, Germany - Germany's Deutsche Bank AG on Thursday reported net earnings of C1.3 billion (US$1.8 billion) in the fourth quarter of 2009, a figure that was bolstered by tax benefits.
The bank, based in Frankfurt and Germany's biggest by assets, said the fourth-quarter profit compared with a loss of C4.8 billion in the final three months of 2008.
It was buoyed by a C554 million gain from tax benefits that arose from a decision to recognize deferred tax assets in the U.S. of some C790 million.
For the full year, the bank earned C5 billion. That compared with a loss of C3.9 billion in 2008, when earnings were hit hard by the global economic crisis.

Organizations: Deutsche Bank AG

Geographic location: Germany, FRANKFURT, U.S.

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