In the second quarter, Deutsche Bank’s restructuring charge was larger than expected
Deutsche Bank AG reported a €3.15 billion loss in the second quarter, reflecting the pain of a large restructuring charge that wiped out what would have been a modest profit.
Germany’s biggest bank, which is in a prolonged struggle to stabilize its business, said it booked a €3.4 billion restructuring charge in the quarter, higher than the €3 billion that it said it would record previously. Excluding the charge, second-quarter profit was €231 million, below the €373 million expected by a consensus estimate...
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