The settlement is based on the proposal of the Munich Higher Regional Court from March 2011 and provides for a payment of €775 million, plus interest and a lump-sum reimbursement of costs.
Due to existing provisions this settlement will result in a decrease of the results of approximately €350 million after tax. The charge will be reflected in the fourth quarter 2013 results.
Jürgen Fitschen and Anshu Jain, Co-Chief Executive Officers of Deutsche Bank, said: 'With today's agreement, we are resolving a well-known and long-standing legacy matter. In our judgment, this is in the best interests of our stakeholders. We intend to make further progress in this regard, step-by-step, throughout 2014'.