'We had a series of positions for our clients which were on the wrong side and we did indeed lose money in the automobile sector', Marcus Schenck, Deutsche Bank’s chief financial officer, told reporters in Frankfurt on Thursday. 'They’re not gigantic amounts and not necessarily linked to Volkswagen, but in our case it was rather other names'.
The losses in equity derivatives helped push Deutsche Bank’s income from stock trading 19% lower in the third quarter to $643m, the company said.
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