Deutsche Bank to post Q4 net loss of $1.35 billion
BERLIN – Deutsche Bank AG says it will post a net loss of 1 billion euros ($1.35 billion) for the fourth quarter of last year.
The result compares with a net loss of 2.2 billion euros in the same quarter of 2012.
Germany’s biggest bank issued the profit warning late Sunday, 10 days ahead of schedule.
The Frankfurt-based bank says revenues during the fourth quarter were down 16 per cent year-on-year at 6.6 billion euros.
It says efforts to restructure the bank’s businesses affected financial results for the second successive year.
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