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Business

Commerzbank Expected To Post First-Ever Loss

Numerous press reports on Tuesday stated that the Frankfurt-based German banking giant Commerzbank will post its first-ever annual loss when it releases its official 2002 results on Wednesday. Analysts say the fourth-largest German bank will post pre-tax losses of up to €380 million ($411.3 million). In the fourth quarter of 2002 alone, losses accounted for €420 million.