Deutsche Bank Q1 litigation expense no pattern for 2013 -CFO
FRANKFURT, April 30
FRANKFURT, April 30 (Reuters) - Deutsche Bank Chief Financial Officer Stefan Krause said first-quarter litigation expenses were unusually low thanks to a large one-off charge booked in the full year 2012.
The first quarter expenses of 132 million euros were "regrettably" no indication of the rate of future costs in 2013 Krause told a conference call.
"Litigation expenses are likely to be a higher burden in future quarters," Co-Chief Executive Anshu Jain said.
In the fourth quarter Deutsche Bank booked litigation expenses of 1.787 billion euros. ($1 = 0.7634 euros) (Reporting By Jonathan Gould and Edward Taylor)
- Obama makes rare campaign trail appearance, people leave early
- Turkey to let Iraqi Kurds reinforce Kobani as U.S. drops arms to defenders |
- Obama makes rare campaign trail appearance, some leave early
- Nigeria declared Ebola-free, holds lessons for others |
- U.S. stocks end higher despite drag from IBM