Deutsche’s strategic review likely to have heft as it warns of €6.2bn loss
Deutsche Bank took the criticisms of its ‘Strategy 2020’ plan — announced in April by then co-CEO Anshu Jain and followed shortly thereafter with his resignation — dead seriously, preparing investors for a shocking third quarter loss as it prepares to divulge new details on the plan.
Chief executive John Cryan on Wednesday announced that the bank expects to take €6.2bn in net losses in the third quarter on impairments on goodwill and intangible assets, as well as provisions for litigation and regulation costs.The bank won’t announce actual third quarter results until October ...
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