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Deutsche Bank Posts Loss in 4th Quarter VOA News 31 Jan 2002 17:48 UTC 
Germany's Deutsche Bank is posting a loss in the fourth quarter, due to restructuring charges and increased provisions for possible loan defaults.
The charges were related mainly to cost-cutting efforts, including the elimination of 9,200 employees. Bank officials say cost cutting steps will continue in 2002, and will include the closure of 490 branches throughout Europe and, possibly, more layoffs.
Deutsche Bank's fourth quarter earnings were also hit by bad loans, due to the bank's exposure to Argentina and bankrupt U.S. energy trader Enron.
Some information for this report provided by Bloomberg.
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