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Germany: Deutsche Bank posts $3.5B loss amid banking sector investigations

By  |  January 31, 2013
Germany: Deutsche Bank posts $3.5B loss amid banking sector investigations

Deutsche Bank has reported a $3.5 billion loss in its fourth quarter, stating that nearly $1.4 billion of that loss was due to legal coverage concerning the German bank’s risk for exposure to a global scandal concerning interest rate manipulation. The nation’s antitrust watchdog announced earlier last month that it was stepping up its investigation into the nation’s banks concerning the rate manipulation, though declined to name which banks were involved. Deutsche Bank also stated that billions were lost to an impairment charge on underperforming assets.

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