Deutsche Bank announces huge 6.7b euro net loss for 2015

January 20, 2016 10:27 PM

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Deutsche Bank announces huge 6.7b euro net loss for 2015

[BERLIN] Germany's largest bank, Deutsche Bank, on Wednesday announced an overall loss of 6.7 billion euros (US$7.3 billion) for 2015, blamed on litigation costs, write-downs and restructuring and severance charges.

Some of these losses had already been announced earlier in 2015 but the bank reported additional litigation charges of 1.2 billion euros in the fourth quarter. Overall, it expects a fourth-quarter loss of 2.1 billion euros, it said in a statement.

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