Deutsche Bank records investment banking loss

50 Euro Note Cut

Deutsche Bank posted a net loss of 6.8 billion euros for 2015, in line with the figure announced last week in a profit warning, as writedowns, litigation charges and restructuring costs took their toll.. The bank had already warned last week that it would post a 2015 net loss of approximately 6.7 billion euros.. John Cryan, Co-Chief Executive Officer, said in a...

Deutsche Bank posted a net loss of 6.8 billion euros for 2015, in line with the figure announced last week in a profit warning, as writedowns, litigation charges and restructuring costs took their toll.

The bank had already warned last week that it would post a 2015 net loss of approximately 6.7 billion euros ($7.3 billion).

Litigation charges amounted to about 1.2 billion euros in the fourth quarter, the bank said at the time.

John Cryan, Co-Chief Executive Officer, said in a statement: "In 2015 we made considerable progress on the implementation of our strategy. The much-needed decisions we took in the second half of the year contributed to a net loss for the fourth quarter and full year."

"We are focused on 2016 and continue to work hard to clear up our legacy issues. Restructuring work and investment in our platform will continue throughout the year."

The group reported a pre-tax loss of 1.15 billion euros for its investment banking business in the fourth quarter.

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