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.
The bank said Wednesday that set-asides for possible losses from litigation against it had also “materially impacted” its result.
Big banks have had to hire staff to comply with government regulations aimed at stabilizing the banking system and preventing more financial crises.
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.
Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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