Deutsche Bank (DB) posted a bigger-than-expected fourth-quarter loss and lifted its litigation reserves to more than €7 billion after fines linked to U.S. mortgage bonds and Russian money laundering hammered the bank's bottom line.
The net loss for the three months ending in December was €1.9 billion ($2.05 billion), higher than the €1.2 billion figure anticipated by analysts. Revenue for the quarter was €7.1 billion, the bank said, a 6% increase over the same period last year. The bank added €2.6 billion to its litigation reserves in the quarter, it said, with the total now at €7.6 billion.
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Citi overcame a mixed print to send its stock surging on Monday.
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