A 25 per cent drop in fourth-quarter pre-tax income these days must be considered a glorious triumph, if its comes, as it does on Thursday in the case of Deutsche Bank, without major additional writedowns and/or SWF-backed bailout financing.
Deutsche has even reconfirmed its full year profit target for the coming year, for goodness sake. And increased the dividend.
You can read the release, and there’s also an FT.com story.