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Deutsche Bank Reports Net Loss of 1.9 Billion Euros
Deutsche Bank reported a net loss of €1.9 billion for the fourth quarter of 2016 due to charges that included its settlement with US government over the toxic mortgage assets.
The bank managed to generate profits for the first three quarters but was hit by the penalties incurred in the last quarter that dragged the bank into the red. This is still considerably lesser than the €6.8 billion lost it incurred in 2015.
News Source: CNN
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About Deutsche Bank
Deutsche Bank is Germany’s leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific. Founded in 1870, it has 2,790 branches around the globe, thereof 1,827 in Germany. The bank provides banking services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals — through four business divisions: Corporate and Investment Banking, Global Markets, Deutsche Asset Management, as well as Private, Wealth and Commercial Clients.
- Origin : Frankfurt, Germany
- Assets : EUR 1.63 trillion
- Revenue : EUR 33.53 billion
- Employees : 101,104
Official Website: www.db.com
News & Media: Press Release
Updated on 8th August 2016
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