Deutsche Bank posts a record €6.7bn loss for 2015

Deutsche Bank posts a record €6.7bn loss for 2015
By Euronews
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Deutsche Bank shares plummeted some ten percent after warning it would report a record loss for 2015.

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Deutsche Bank shares plummeted some ten percent after warning it would report a record loss for 2015.

Deutsche Bank has shrunk so much it's now smaller than Danske Bank of Denmark.
h/t evans_edward</a> <a href="https://t.co/4wzaHJ23ai">pic.twitter.com/4wzaHJ23ai</a></p>&mdash; Trista Kelley (trista_kelley) January 22, 2016

The bank lost some €6.7bn last year handing a headache to new Chief Executive
John Cryan.

''Cash won't exist in ten years.'' — John Cryan, Deutsche Bank co-chief executive officer DeutscheBank</a> <a href="https://twitter.com/hashtag/WEF16?src=hash">#WEF16</a> <a href="https://t.co/Z3kLmpQ2xv">pic.twitter.com/Z3kLmpQ2xv</a></p>&mdash; Paul X. McCarthy (paulxmccarthy) January 20, 2016

The scale of the losses are blamed on writedowns, litigation charges and restructuring costs plus a difficult trading climate in the latter part of the year.

Deutsche Bank Continues its Exit From Markets – Deutsche Bank sold off its gold storage… .https://t.co/U0QCIM6rnUpic.twitter.com/IJuhfjTTok

— The Forecaster (@BukeraPictures) January 13, 2016

Cryan described 2015 as “sobering,” but insisted restructuring would continue in an attempt to make the bank more efficient.

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