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Deutsche Bank reports loss of 1.4 billion euros in 2016

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Frankfurt am Main (AFP)

Troubled German banking giant Deutsche Bank on Thursday reported a net loss of 1.4 billion euros for 2016 as it struggles with the impact of mammoth fines, lower revenues and restructuring costs.

The fourth quarter alone saw a loss of 1.9 billion euros, affected largely by $7.2 billion the bank agreed to pay in fines and compensation in the US over its involvement in the mortgage-backed securities crisis of 2008.

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