Deutsche Bank has said it expects to log $1.13bn of litigation costs in the third quarter.
Deutsche Bank has yet to resolve probes into its role in industrywide attempts to manipulate benchmark interest rates and currency markets, and also faces lawsuits alleging it failed to make adequate disclosure of U.S. mortgage-backed securities. The announcement brings Deutsche Bank’s legal costs for the first nine months to about 1.36 billion euros.
'It’s within expectations,' said Dirk Becker, an analyst at Kepler Cheuvreux in Frankfurt. 'Deutsche Bank gave guidance for 3 billion for 2014 and in the first half of the year we basically had nothing, so it was always clear it’ll come back-end-loaded in the second half.'
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