NEW YORK (TheStreet) -- Investors are breathing a sigh of relief after Deutsche Bank
, Europe's largest bank by assets, rebuilt its capital position even as it suffered a $3 billion fourth-quarter loss.
The earnings indicate that, in the near term, Deutsche Bank's profit will be hit by restructuring efforts such as a planned 90 billion euro reduction in risky assets, layoffs and an exit from some capital-intensive businesses. They also show strong initial results by the bank's co-heads, Jrgen Fitschen and Anshu Jain, in achieving restructuring and recapitalization targets, after their June 2012 appointments.
Still, Deutsche Bank's capital position -- and the quality of its assets -- remains the biggest question hanging over the European banking conglomerate, according to analysts. The Frankfurt-based bank reached a Basel 3 tier 1 capital ratio of 8%.
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