The top German bank recorded a loss of € 1.6 billion ($ 1.78 billion) in the fourth quarter of 2019, bringing the annual loss to € 5.7 billion.
Representative picture of Deutsche Bank
Frankfurt: In the fourth quarter of 2019, Deutsche Bank recorded a loss of 1.6 billion euros (1.78 billion US dollars), which amounted to 5.7 billion euros, the lender said on Thursday.
It was the third consecutive quarterly loss and the fifth consecutive annual loss for the top bank.
The results were worse than expected, as analysts had previously predicted that the German would lose an average of 1 billion euros in the quarter and 5 billion euros throughout the year.
The numbers conclude a turbulent decade for the Germans, who have lost a cumulative 15 billion euros in the past five years and have used up more than the 9 billion euros in profits made in the same period. The stock price has dropped to 82% over the decade.
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