deutsche bank confirms huge 2015 loss
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Deutsche Bank confirms huge 2015 loss

Arab Today, arab today

Arab Today, arab today Deutsche Bank confirms huge 2015 loss

Deutsche Bank's new chief John Cryan
Frankfurt - AFP

Deutsche Bank on Thursday confirmed a net loss of 6.8 billion euros last year, as Germany's top lender was weighed down by enormous restructuring costs, risk provisions and lower income.

Losses in the fourth quarter alone amounted to 2.1 billion euros ($2.3 billion), said Deutsche Bank, which had already published most of its financial results last week.

The bank is currently mired in a tangle of around 6,000 lawsuits and in May was fined a record $2.5 billion for its involvement in rigging interest rates.

It has also faced probes by Swiss authorities for suspected price fixing on the precious metals market and US investigators have looked into its Moscow branch on suspicion of possible involvement in money-laundering.

The group's new chief John Cryan has pledged a sweeping culture change within the bank, but investors are worried that the litigation costs will still hit profitability for years to come.

Despite the heavy restructuring costs, Cryan vowed to continue on the same road.

"We know that periods of restructuring can be difficult. However, I am confident that by continuing to implement our strategy in a disciplined way, we can transform Deutsche Bank into a stronger, more efficient and better-performing institution," he said in a statement.

"We are concentrating on 2016 and we are continuing our work to settle our litigation. The work of restructuring and investing in our platforms will continue this year," vowed the chief executive.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

deutsche bank confirms huge 2015 loss deutsche bank confirms huge 2015 loss

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

deutsche bank confirms huge 2015 loss deutsche bank confirms huge 2015 loss

 



GMT 12:48 2016 Sunday ,27 November

Cilic, Dodig push Croatia to brink of Davis Cup

GMT 05:24 2017 Thursday ,28 December

Erdogan says 'terrorist' Assad cannot be part of Syria

GMT 12:59 2016 Saturday ,05 November

WB welcomes economic reforms in Egypt

GMT 18:40 2016 Saturday ,05 November

Egyptian GDRs in London down

GMT 10:57 2017 Wednesday ,06 December

Peru striker Guerrero has doping ban extended

GMT 17:51 2017 Tuesday ,07 March

Trump Signs New Travel Ban on Six Muslim Countries

GMT 10:30 2017 Wednesday ,06 September

Saudi Information Ministry praises media role during Hajj

GMT 15:29 2017 Tuesday ,24 January

Mind games really do help your brain

GMT 06:55 2015 Thursday ,01 October

Boston Red Sox beat Yankees

GMT 08:17 2017 Monday ,28 August

Bahrain celebrates World Humanitarian Day 2017

GMT 02:07 2017 Tuesday ,28 February

Opposition seeks Russian support at Syria talks
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday