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Deutsche Bank reports unexpected losses in the fourth quarter

2018-02-02 12:11 pm | Resource: News Section | No Views : 465

Deutsche Bank reports unexpected losses in the fourth quarter

Deutsche Bank posted a higher-than-expected loss in the fourth quarter of last year, and its earnings declined.
German bank data released on Friday showed a 2.2 billion euro ($ 2.8 billion) loss in the three-month period ending last December, with losses of 1.9 billion euros over the same period in 2016.
Analysts had forecast the bank's losses would fall to 1.25 billion euros.
The bank said it would incur additional expenses of 1.4 billion euros as a result of the tax reform program in the United States. Without these expenses, the bank would make an annual profit of 900 million euros.
Deutsche Bank's revenues fell to 5.7 billion euros in the fourth quarter of 2017, compared with 7.1 billion euros in the corresponding period of the previous year.
The bank's revenue in 2017 fell to 26.44 billion euros from 30.01 billion euros in 2016.
Deutsche Bank fell 6% to 6.89 euros by 9:10 am GMT.


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