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Deutsche Bank's Loss Greater Than Expectations in Fourth Quarter and Full Year

Reuters

Last Updated: January 30, 2020, 12:43 IST

Representative image of  Deutsche Bank

Representative image of Deutsche Bank

The top German bank posted a loss of 1.6 billion euro ($1.78 billion) loss in the fourth quarter of 2019, bringing the total loss for the year to 5.7 billion euros.

Frankfurt: As Germany's Deutsche Bank undergoes a costly overhaul, it posted a 1.6 billion euro ($1.78 billion) loss in the fourth quarter of 2019, bringing the total loss for the year to 5.7 billion euros, the lender said on Thursday.

It was the third consecutive quarterly loss and fifth annual loss in a row for the top bank.

The results were worse than expected, as analysts had previously forecast that Deutsche, in average, would lose 1 billion euros in the quarter and 5 billion euros in the entire year.

The figures conclude a turbulent decade for Deutsche, which has lost a cumulative 15 billion euros over the last five years, eating out more than the 9 billion euros in profit gained during the same period. The share price has fell to 82% during the course of the decade.

first published:January 30, 2020, 12:43 IST
last updated:January 30, 2020, 12:43 IST