Deutsche Bank posts net loss of 5.3 billion euros for 2019 amid major restructuring

Finance

2016A statue is seen next to the logo of Germany’s Deutsche Bank in Frankfurt, Germany.

Kai Pfaffenbach | Reuters

Deutsche Bank on Thursday posted a full-year net loss of 5.3 billion euros ($5.8 billion) amid a huge transformation project, the cost of which the German lender said is now 70% complete.

The German lender announced in July that it would pull out of its global equities sales and trading operations, scale back its investment banking division and cut 18,000 jobs in a bid to trim its adjusted cost base by 20% by 2022.

This is a breaking news story, please check back later for more.

Articles You May Like

The boldest bitcoin predictions for 2025 are in — and most see prices doubling to $200,000
Treasury small business ownership rule on hold as court eyes constitutionality
These airlines were the most on time in 2024
25 Social Security Facts For 2025
Here’s what should be on your financial to-do list for 2025, top advisors say

Leave a Reply

Your email address will not be published. Required fields are marked *