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.
Since the outbreak of the financial crisis in 2007, financial institutions have paid more than Qatar's GDP in fines for their wrongdoings. As investigations and lawsuits continue, that number is expected to grow.
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.
Three of the biggest lenders in the US have presented their third-quarter results - and they are better than analysts had expected. The positive news came as one of the banks faced huge fines for opening sham accounts.
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