Deutsche Bank said on Wednesday the German lender posted a larger-than-forecast ...
) said on Wednesday the German lender posted a larger-than-forecast loss of 3.15 billion euros in the second quarter due to major restructuring costs.
The bank had already taken significant steps to implement its strategy, Chief Executive Officer Christian Sewing said on Wednesday.Net revenue in the quarter fell 6% to 6.2 billion euros. Analysts on average had expected 6.3 billion euros in revenue, according to a consensus forecast posted on the bank’s website.
Deutsche’s woes peaked with a $7.2 billion U.S. fine in 2017 for its role in the mortgage market crisis, in a major blow that spooked clients and drew regulatory concern. Details of those plans were announced earlier this month. They include plans to scrap its global equities business and scale back its investment bank. It also reshuffled management.
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