The Bundesbank said its full year 2003 net profit plunged to €248 million from €5.324 billion the previous year as the weak dollar lowered the value of its equity holdings.
The bank had announced last year that 2002 net profit was €5.4 billion but today it disclosed the figure had been restated to €5.324 billion.
The bank said it also had to take a €2.3 billion writedown for the business year 2003 due to the lower valuation of its equities portfolio.
Of the €2.3 billion writedown, €1.7 billion alone was attributed to lower valuation of dollar-denominated securities holdings.
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AFP