Deutsche Bank star fades as debt trading collapes

Deutsche Bank predicted a bleak future as debt trading collapsed, while Spanish rival Santander showed bad debts were on the rise in the wider economy. Swedish bank SEB unveiled a rights issue to raise almost €1.5 billion yesterday, highlighting the...

Deutsche Bank predicted a bleak future as debt trading collapsed, while Spanish rival Santander showed bad debts were on the rise in the wider economy.

Swedish bank SEB unveiled a rights issue to raise almost €1.5 billion yesterday, highlighting the impact of rising bad debts on strained balance sheets. Deutsche Bank made a net loss of almost €4 billion - compared to €6.5 billion in 2007 - amid heavy writedowns and as revenues from trading of debt and other products shrivelled from €8.4 billion to €124 million.

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