Wachovia Corp. swung to a large third-quarter loss, as the bank posted $18.8bn (€14.6bn) in goodwill write-downs and $8.71bn in other charges and costs related to market disruption, investing and other crisis-related losses.

The Charlotte, NC,-based bank posted a net loss of $23.7bn, or $11.18 a share, from a net profit of $1.62bn, or 85 cents a share, a year earlier.