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Deustche bank Reported Improved Net loss for 2016

二月, 02 2017

Economic news

Deutsche Bank, an established German lender, reported a net loss of 1.9 Billion Euros equivalent to 2.05 Billion U.S. Dollars in its fourth quarter. This is seen as a better outcome for the year 2016 which has been a difficult year. Also, compared to a year earlier than 2016 where the net loss was calculated as 6.8 billion euros, the 1.4 figure was significantly lower supported by strong capital and high liquidity ratios. On the other hand, charges tallied as much as 5.8 billion euros for last year with 2.9 billion euros spent for the fourth quarter alone as shown in the earnings report.

For the month of January this year, they publicized that the bank will pay 7.2 billion U.S. dollars for “misleading investors” with the Residential Mortgage-Backed Security (RMBS) agreement holding them accountable with its wrongdoings that were detrimental for both investors and general American population. Back in 2016, the bank is said to pay 14 billion U.S. Dollars to settle its RMBS with the U.S. Department of Justice.

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