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Deutsche Bank 'to post loss'

Deutsche Bank seems set to announce a loss for the first quarter of 2008, Bloomberg reports.

The German institution is predicted by analysts to post a deficit exceeding $250 million, according to a poll of banking experts conducted by the news agency.

If the bank reports a loss in its profits declaration tomorrow, it will be its first such announcement for five years.

However, Deutsche Bank has not been hit with sub-prime write-downs to the extent that European rivals such as UBS have suffered, an expert has pointed out.

Fund manager Thomas Koerfgen commented: "Good risk management and the push to expand retail banking and asset management [at the firm] are paying off…[it] appears to have done better than its Swiss counterparts.''

A report in German newspaper Der Spiegel also claims today that the bank will seek a $4 billion rights issue from shareholders this month, in order to fund share purchases in institutions weakened by the credit crunch.

Total losses from the crisis among banks exceed $300 billion since the beginning of the crunch last summer.