Deutsche Bank posts larger-than-expected loss in Q4 and full year

The figures conclude a turbulent decade for Deutsche, which lost a cumulative €15 billion over the last five years. (AFP)

• Analysts on average forecast Deutsche would lose €1 billion in the quarter
• The figures conclude a turbulent decade for Deutsche

FRANKFURT: Deutsche Bank posted a €1.6 billion ($1.78 billion) loss in the fourth quarter of 2019, bringing the total loss for the year to €5.7 billion as the bank undergoes a costly overhaul, the lender said on Thursday.
It was the third consecutive quarterly loss and fifth annual loss in a row for Germany’s top bank.
The results were worse than expected. Analysts on average forecast Deutsche would lose €1 billion in the quarter and €5 billion for the full year.
The figures conclude a turbulent decade for Deutsche, which lost a cumulative €15 billion over the last five years, more than wiping out the €9 billion in profit during the previous five years. The share price fell 82 percent during the course of the decade.