Arab Today, arab today legal costs push deutsche bank into red in third quarter
Last Updated : GMT 22:27:42
Arab Today, arab today
Arab Today, arab today

Legal costs push Deutsche Bank into red in third quarter

Arab Today, arab today

Arab Today, arab today Legal costs push Deutsche Bank into red in third quarter

Deutsche Bank
Frankfurt - AFP

Deutsche Bank, Germany's biggest lender, said Wednesday that litigation and other costs pushed it into the red in the third quarter.
In the period from July to September, the group booked a net loss of 94 million euros ($120 million), compared with a profit of 41 million euros a year earlier, Deutsche Bank said in a statement.
"Net income in this quarter was materially impacted by provisions as we continued to work toward resolution of litigation matters related to legacy issues," the bank's two co-chief executives Juergen Fitschen and Anshu Jain were quoted as saying in the statement.
"We also incurred costs of adapting to new regulation."
Just last week, Deutsche Bank revealed that it had run up litigation costs of 894 million euros in the third quarter, which are not tax deductable.
Deutsche Bank has found itself accused of a long list of wrongdoings in the past, including attempted manipulation of the currency markets, rigging the Libor and Euribor interest rates and doing business with countries subject to US sanctions such as Iran.
Nevertheless, Jain and Fitschen insisted that Deutsche Bank's underlying performance was "solid, with well-balanced earnings contributions and underlying revenue growth across all four core businesses": corporate banking and securities, private and business clients, global transactions, and asset and wealth management.
Net revenues were up 1.5 percent at 7.864 billion euros in the July-September period and operating profit amounted to 266 million euros, compared with just 18 million euros a year earlier.

 

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*

Arab Today, arab today legal costs push deutsche bank into red in third quarter Arab Today, arab today legal costs push deutsche bank into red in third quarter

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Leader Omar Abdel Rahman dies in US prison

GMT 19:00 2017 Sunday ,19 February

Leader Omar Abdel Rahman dies in US prison
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Actress Nadeen Al Rassi views art as her entity

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:05 2017 Friday ,17 February

Singer Diana Karzon will issue a new album soon

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
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
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday