Deutsche Bank Profit Falls 94% on 1.2 Billion Euro Charge
By Nicholas Comfort - Oct 29, 2013 4:13 AM ET ..
Deutsche Bank AG (DBK), Europe’s largest investment bank by revenue, said third-quarter profit slid 94 percent after it set aside 1.2 billion euros ($1.65 billion) to cover potential legal costs and income from debt trading fell.
Net income in the three months through September dropped to 41 million euros from 747 million euros in the year-earlier period, the Frankfurt-based bank said in a statement on its website today. That missed the 430 million-euro average estimate of 12 analysts surveyed by Bloomberg.
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