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- Former JPMorgan Broker Files racial discrimination suit against company
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Deutsche Bank Books $2Bn Loss as Litigation Costs Bite - Shares Sink
Bad News: Deutsche Bank posted a net loss of 1.9 billion euros ($2.05 billion) for its 4th quarter, missing analyst expectations.
Good News: DB reported improved results for the whole of 2016 in what has been a trying year for the bank.
Deutsche Bank's full-year net loss was 1.4 billion euros, versus a net loss of 6.8 billion euros in 2015, with CEO John Cryan s saying that the bank "finished 2016 with pleasingly strong capital and liquidity ratios." Investors responded negatively the the news, driving down the market price of DB shares by as much as 6% - though share prices recouped some of the loss before the closing bell.
In the earnings report Thursday, it said that the downsizing or exiting of a number of businesses, and "negative news flow around the DOJ RMBS settlement in October 2016 adversely impacted revenues."
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