Deutsche Bank's profit streak ends with big lawsuit provision

FRANKFURT: Deutsche Bank posted a loss in the second quarter, it disclosed on Wednesday, its first in four years after setting aside 1.3 billion euros ($1.41 billion) as a provision for a protracted investor lawsuit over its Postbank acquisition.

The loss at Germany's largest lender broke a profit streak after 15 consecutive quarters in the black, in a setback for the bank's turnaround under CEO Christian Sewing.

Uh-oh! Daily quota reached.


Experience an ad-free unlimited reading on both web and app.

Subscribe 
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Deutsche Bank , turnaround , profit

   

Report it to us.

Next In Business News
Malaysia's private non-financial sector's credit growth moderated to 4.8% in September
US tariffs on China to have mixed impact on Asean economies - OCBC
Minox International proposes 1-for-2 bonus issue of warrants
UBS posts bigger-than-expected net profit in third quarter
China and Hong Kong stocks drop as US election risks loom
StanChart third-quarter profit more than doubles on strong wealth growth, raises guidance
Bursa Malaysia's net profit jumps 42% to RM85.74mil in 3Q as ADV climbs
FBM KLCI slides as US election jitters mount
Australian dollar stuck near three-month lows on mixed inflation data
Axis-REIT raises RM449.73mil from private placement

Trending in Business

Others Also Read

Load more

Copyright © 1995- Star Media Group Berhad [197101000523 (10894-D)]

Best viewed on Chrome browsers.