Deutsche Bank is leading fallers on the benchmark DAX-30 after reporting earnings that fell well below analysts' expectations.
Third quarter net income fell 94% to €41m, well below the €430m consensus estimate. Pre-tax profit plummeted 98% to €18m, leagues away from the €642m analyst forecast.
Deutsche Bank said in the statement that income was "impacted by significant litigation charges", with legal provisions rising by €1.2bn. The German bank added that "we expect the litigation environment to continue to be challenging". Unlike rival financial institutions such as Barclays, RBS or UBS, Deutsche Bank has yet to settle accusations of rigging benchmark interest rates.
Source: LiveCharts
Third quarter net income fell 94% to €41m, well below the €430m consensus estimate. Pre-tax profit plummeted 98% to €18m, leagues away from the €642m analyst forecast.
Deutsche Bank said in the statement that income was "impacted by significant litigation charges", with legal provisions rising by €1.2bn. The German bank added that "we expect the litigation environment to continue to be challenging". Unlike rival financial institutions such as Barclays, RBS or UBS, Deutsche Bank has yet to settle accusations of rigging benchmark interest rates.
Source: LiveCharts
