Deutsche Bank Reports Q3 Loss
FRANKFURT, Germany (AP) – Deutsche Bank says it made a net loss of 92 million euros in the third quarter as legal costs and complying with new regulations weighed on earnings.
The loss compares to a profit of 51 million euros in the same period a year ago. Net revenues rose 2 percent to 7.864 billion.
Litigation Set-Asides Impact Results
The bank said Wednesday that set-asides for possible losses from litigation against it had also “materially impacted” its result.
Regulatory Compliance Increases Costs
Big banks have had to hire staff to comply with government regulations aimed at stabilizing the banking system and preventing more financial crises.
Losses from Non-Core Operations Unit
The bank also recorded 1.049 billion euros in losses from its non-core operations unit, where it has placed risky assets and investments that it is selling off or winding down to strengthen its overall finances.
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