1 Bankers Trust New York Corp., as expected, reported a third-quarter loss of $1.42 billion, or $17.39 a share, following its $1.6 billion boost in reserves for losses on loans to less-developed countries.
2 The loss compares with net income of $162.1 million, or $2.01 a share, in the year-earlier period.
3 Interest income rose 29% to about $1.35 billion from $1.05 billion.
4 The New York bank holding company's assets at Sept. 30 climbed to $59.4 billion from $57.9 billion.
5 Excluding the increase in loan-loss reserves, Bankers Trust said third-quarter net income would have increased 11% to $180 million.
6 A number of major banks have posted big losses after sharply increasing loan-loss reserves.
7 Most of the loans in question are to Third World countries in South America.
8 In New York Stock Exchange composite trading yesterday, Bankers Trust fell 12.5 cents to $50.50.

Bankers Trust New York Corp . , as expected , reported a third - quarter loss of $ 1 . 42 billion , or $ 17 . 39 a share , following its $ 1 . 6 billion boost in reserves for losses on loans to less - developed countries .
$ 1 . 6 billion boost in reserves
How did such a loss occur if there was a boost in reserves?