Deutsche Bank AG, the biggest lender in Germany, expected a loss of 2.1 billion euros ($ 2.3 billion) in the fourth quarter after setting aside more money for litigation and as restructuring costs.
Around € 1.2 billion was set aside for litigation and € 800 million for restructuring and compensation for redundancy, mainly in the department for private and business customers.
Annual revenues will be around 33.500 billion euros, leading to a net loss of 6.7 billion euros for the period, said Deutsche Bank.
This will be the bank's first loss since 2008. since. The news is likely to be affected
the shares of the bank. Negative movement may continue until there is a clear signal that the restructuring of the bank is in the right direction.
E.Dimitrov JrTrader
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