Deutsche Bank reports a 2Q loss, ending a 15-quarter profit streak due to legal provision for Postbank lawsuit.
Deutsche Bank reported a loss for the second quarter, breaking a 15-quarter profit streak, after setting aside 1.3 billion euros as a provision for a long-running investor lawsuit over its Postbank division. The net loss attributable to shareholders was 143 million euros, better than analyst expectations of a loss of around 280 million euros. This marks a setback for CEO Christian Sewing's turnaround plan.
July 24, 2024
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