The German financial giant has reported third quarter results -- and they have disappointed the markets. Deutsche Bank has beefed up provisions for legal costs. And that has seen profits dive drastically.
A trial in London to last several months is looking into benchmark-rigging offences committed between 2005 and 2009. Among the defendants are traders from Germany's largest lender, Deutsche Bank, and Barclays.
The German lender has beaten analysts' expectations for third-quarter profit and has settled another case of its financial crisis wrongdoings. But meagre revenues show the bank is far from being out of the woods.
Deutsche Bank has reached a $7.2 billion agreement to resolve a US investigation into its dealings in mortgage-backed securities. The deal removes a major legal hurdle for the bank.
Shares in Germany's biggest lender have come under selling pressure after the bank confirmed that the US Justice Department is seeking $14 billion to settle civil claims over its residential mortgage-backed securities.
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