The third quarter ends badly for Deutsche Bank, which records a net loss of 94 million euros, a clear decrease compared to the net profit of 41 million recorded in the same period last year. The German banking giant announced it today, specifying that, again in the third quarter of 2014, net revenues amounted to 7,9 billion, up 2% on an annual basis.
However, the loss was expected after last week's decision to book further reserves for legal disputes amounting to 894 million, bringing the provisions approved so far to 3,13 billion.
Jurgen Fitschen and Anshu Jain, Co-Chief executives of the bank, explained that the first thing weighing on the accounts were provisions for 269 million euros (down 47% compared to the third quarter of 2013) and costs relating to introduction of new forms of regulation.
At the same time, the managers added, “the raising of control standards and the investments for the growth of our core business also played their part”.
However, Deutsche Bank reported a notable increase in pre-tax profit, from 18 million a year ago to 266 million, thanks in particular to the recovery in the fixed income business, while operating income rose from 7,75 billion to 7,86 .XNUMX billion.
