Deutsche bank suffers $3.5 billion loss in second quarter
India TV NewsDeutsche Bank says it lost 3.1 billion euros in the second quarter as it booked heavy charges for its sweeping restructuring that will lead to the loss of 18,000 jobs by 2022. The German bank said Wednesday that without the charges it would have made a net profit of 231 million euros and that a “substantial portion” of the deductions to earnings for the restructuring were now behind it. Deutsche Bank has struggled with low profits, high costs, questions about its business model, and fines and settlements with regulators for misconduct. Sewing said that the bank had already taken “significant steps” to improve its earnings performance and that “excluding transformation charges the bank would be profitable and in our more stable businesses revenues were flat or growing.”
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