Deutsche Bank profits down by half, but revenues soar
April 27 , 2015
Deutsche Bank has posted a sharp drop in profit after it set aside €1.5 billion to cover regulatory fines and legal costs.
The bank’s net income for the first quarter of 2015 was €559 million, down by half compared to the same period in the previous year. However, its revenue in the three months ending March increased by 24% to €10.4 billion.
Deutsche Bank has been fined €2.3 billion for attempting to manipulate lending rates.