Deutsche Bank Chief Risk Office Hugo Banziger says the credit crisis is "far from over... We are in the middle of it." Financial companies worldwide have already lost $1.3 trillion, but Banziger expects losses to climb to $3 trillion.

Deutsche Bank largely avoided the subprime crisis by betting against the faulty bonds, but it has still written down over $12 billion. And in February, the bank announced its first annual loss in 50 years.

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