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Germany: Deutsche Bank profit hit by legal costs

By  |  April 26, 2015

Deutsche Bank says net profit fell to 559 million euros in the first quarter as legal penalties ate into stronger revenues from trading stocks and bonds.

The bank had to deduct an additional 1.5 billion euros from earnings to account for penalties it has agreed to pay to authorities in the U.S. and Britain to settle investigations into the bank’s role in rigging key interest rate benchmarks and other matters.

Last week the bank said that it had agreed to pay penalties of $2.175 billion to the US Justice Department, the Commodity Futures Trading Commission and the New York Department of Financial Services to settle the rate-rigging investigation.

 

Full Content: The Wall Street Journal

 

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