Deutsche Bank has released its worst set of quarterly results since 2008. Management blamed restructuring measures for the losses of 2.2 billion euros, although litigation costs were also a drain on annual profits.
German lender Deutsche Bank has presented its second-quarter earnings report, pointing to surging net and underlying profits. But Chief Executive John Cryan is unhappy about a drop in revenues across all divisions.
Germany's biggest lender has accrued a massive loss for the second year running as legal costs for past misdeeds outstripped profits from bond trading, disappointing investors who had hoped for a better result.
The situation must be really bad for a firm that tries to sell a gigantic loss as a success story, as Deutsche Bank has done. After a year of transition, it's time for CEO John Cryan to deliver, says DW's Henrik Böhme.
Germany's largest lender has apologized for its costly mistakes in the past as it deals with historic legal troubles. Last week, Deutsche Bank announced a 1.4 billion euro annual loss.
© 2017 Deutsche Welle |
Legal notice |
| Mobile version