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Deutsche Bank sets aside more cash to cover litigation costs


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Deutsche Bank sets aside more cash to cover litigation costs

Deutsche Bank has trimmed 600 million euros from the pretax profit for last year that it previously reported.

Europe’s biggest bank in terms of assets said it was having to set aside more money to cover mortgage-related lawsuits and other regulatory investigations in the wake of the financial crisis.

They include sales of risky mortgage debt, business links to Iran, Sudan and other countries subject to US economic sanctions, and suspected manipulation of interbank lending rates.

It has increased litigation provisions to 2.4 billion euros.

The downward results revision follows a supervisory board meeting at Deutsche Bank on Tuesday.

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