Deutsche Bank reports loss of 1.4 billion euros in 2016
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.
© 2017 AFP