Deutsche Bank: $1.1bn Q3 legal costs are 'within expectations'

Deutsche Bank Headquarters

Deutsche Bank has said it expects to log $1.13bn of litigation costs in the third quarter.

Bloomberg News reports that the figure relates to 'a number' of items that are largely not tax-deductible, the Frankfurt-based bank said Thursday in a statement, without giving details. 

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.'

Hit the link below to access the complete Bloomberg News article:

Deutsche Bank Sees $1.1 Billion Quarterly Legal Costs

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