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Deutsche Bank sees Q4 pretax impact of $1.2 bln from DoJ civil penalty
January 18, 2017 / 6:33 AM / 8 months ago

Deutsche Bank sees Q4 pretax impact of $1.2 bln from DoJ civil penalty

FRANKFURT, Jan 18 (Reuters) - Deutsche Bank expects a negative impact of $1.2 billion on its fourth-quarter pretax profit from a civil monetary penalty of $3.1 billion agreed with the U.S. Department of Justice, its chief executive said in a message to staff.

Germany’s biggest bank on Tuesday finalised a $7.2 billion settlement with the DoJ over its sale of toxic mortgage securities in the run-up to the 2008 financial crisis, which also included $4.1 billion of consumer relief.

“Given other lawsuits, it is still too early to talk of having drawn a line under all matters,” John Cryan wrote.

“We are, however, nearing our objective of being able to concentrate primarily on the future instead of repeatedly having to look over our shoulders at past events.” (Reporting by Georgina Prodhan; Editing by Himani Sarkar)

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