Deutsche Bank has plunged to a 2.6 billion-euro quarterly loss as it moved to clean up its balance sheet.
The bank’s co-Chief Executive Anshu Jain said the legal and restructuring charges it had taken were so that it would not have to ask shareholders for cash by issuing new shares.
“We have been very consistent. We have said we do not believe it is in our shareholders’ best interests. We have shown that we are willing to take pain,” Jain told a conference call when asked about a possible rights issue.
“This said, clearly, it is a very uncertain world. There is a plan B. We will not rule out any option that is in the best interest of Deutsche Bank.”
The charges include one billion euros set aside to cover legal risks from its potential exposure to the Libor scandal involving interest rates fixing.
- 1Leaders sign off on pipeline to bring gas from Azerbaijan to Europe
- 2Australian government forced to think again on backpacker tax
- 3Eurostar sales fall after Paris and Brussels terror attacks
- 4Security concerns hit tourism industry, Thomas Cook shares slump
- 5TTIP trade deal under threat over the Feta factor
Wires > Business
- 07:29 CET Japan PM aide: Sales tax rise would win global trust, can’t rule…
- 07:07 CET Swiss attorney general opens criminal proceedings against BSI
- 02:48 CET Japan’s net external assets fall for first time in five years…
- 02:42 CET Nissan mulls sale of stake in auto parts supplier Calsonic Kansei…
- 01:11 CET Big banks’ first-quarter commodities revenue drops 40 percent -…
- 01:10 CET Investment banks suffer worst first quarter since financial crisis…
- 01:04 CET SWIFT to unveil new security plan after hackers’ heists
- 00:56 CET NY lawmaker warns on U.S. financial security after SWIFT attacks