Financial Setback

Deutsche Bank, Germany's largest, said it suffered a net loss of 3.9 billion euros ($5 billion) in 2008, confirming reports from mid-January. But despite the loss, the bank said it would pay out a dividend of 50 euro cents per share.

A net loss of 4.8 billion euros was accrued in the fourth quarter alone, compared with a net profit of 1 billion euros in the fourth quarter of 2007.

"Operating conditions in the quarter were completely unprecedented, and exposed some weaknesses in our business model," Ackermann said in a statement.

Though Ackermann predicted that "very difficult" economic conditions would continue in the near future, he said he was optimistic that "Deutsche Bank will emerge successfully from the current crisis."

Dividend a sign to shareholders

Deutsche Bank said it plans to pay out a dividend of 50 euro cents per share for 2008, reflecting "confidence in the bank's future performance," Ackermann said. The bank paid a 4.50 euro per share dividend for 2007.

Ackermann has repeatedly said Deutsche Bank does not need to raise capital and would not participate in the German government's 480-billion-euro bank bailout plan. To avoid raising funds or relying on government handouts, Ackermann has said he aims to shrink Deutsche Bank's assets and reduce its dependence on borrowed money.