Deutsche debt trading drags as legal costs halve profits
Deutsche Bank saw its profits halve year-on-year to €335m as it increased legal provisions in the second quarter of 2013. Investment bank net revenues grew, but the bank’s debt trading business declined, in sharp contrast to many of its rivals.
Deutsche set aside a further €630m for litigation, bringing its total provisions for potential fines and settlements to €3bn.
That increase weighed on profits at a group level. Net income fell by half to €335m from €666m a year earlier.
Deutsche said the quarterly performance of its investment
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