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Deutsche Bank reports larger loss than previously indicated

Europe
16.03.2018
By our dpa-correspondent and Europe Online    auf Facebook posten  Auf Twitter posten  
Frankfurt (dpa) - Germany‘s Deutsche Bank has slipped further into the red than previously indicated: audited figures released on Friday for 2017 showed that the bank lost 735 million euros (905 million dollars) over the year.

Based on preliminary figures, the bank had predicted at the beginning of February that it would make a loss of 497 million euros in 2017.

The main reason for the discrepancy was a one-off accounting hit from tax payments in Britain, the bank said.

Despite reporting its third annual loss in a row, Germany‘s largest bank said it would still pay out bonuses of 2.3 billion euros to its employees.

Deutsche Bank head John Cryan said on Friday the bank confirms its aim of making a net profit again in 2018 and paying a competitive dividend.

Deutsche Bank‘s shareholders are expected to receive a dividend of 11 euro cents per share.

The 12-member board of directors will receive remuneration totalling 29.2 million euros, up from 25.9 million euros for the previous year, the bank said.

Cryan will personally receive 3.4 million euros, down from 3.8 million euros last year.

The board said at the weekend that they would not be taking bonuses this year.

 

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