Deutsche Bank set aside an additional €1.2bn (£1bn) in legal provisions to combat potential litigation over the wave of scandals that have hit the banking sector in recent months. The provision, which meant Deutsche's legal war chest is now €4.1bn (£3.5bn), severely hit the bank's third quarter pre-tax profit, which plummeted 98% to €18m (£15.4m), down from €747m (£640m) in Q3 2012.
October 29, 2013 at 08:19 AM
1 minute read
The original version of this story was published on Legalweek
Deutsche Bank set aside an additional €1.2bn (£1bn) in legal provisions to combat potential litigation over the wave of scandals that have hit the banking sector in recent months.
The provision, which meant Deutsche’s legal war chest is now €4.1bn (£3.5bn), severely hit the bank’s third quarter pre-tax profit, which plummeted 98% to €18m (£15.4m), down from €747m (£640m) in Q3 2012.
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