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Daily Digit: Deutsche Bank's litigation bill

Wednesday, March 20, 2013 - 00:51

March 20 - Deutsche Bank says if will lower its 2012 pretax profit by 600 million euros ($773 million) hit by new charges related to mortgage-related lawsuits and other regulatory investigations. Hayley Platt reports.

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600 million euros is today's Daily Digit in Europe - the amount Germany's Deutsche Bank says litigation charges will increase by. It's to pay for mortgage-related lawsuits in the U.S. and other regulatory investigations. Deutsche Bank haven't said exactly what those other charges are for. But it's revised its payment pot for legal fees, now 2.4 billion euros. The extra cost reduced its annual net profit to 800 million euros. The bank said it was made aware of the lawsuits after it published unaudited figures at end of January. Accounting rules require the bank to disclose any new information, if it significantly affects the previous numbers. The bank said its 2012 dividend would remain unchanged at 8.5 percent.

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Daily Digit: Deutsche Bank's litigation bill

Wednesday, March 20, 2013 - 00:51