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October 30th, 2013 
FAKE NEWS for the Zionist agenda Deutsche Bank said Tuesday that it has made a mere 51 million euros (USD 70 million) in the third quarter of this year, having set aside 1.2 billion euros for losses from lawsuits.
This comes while the net profit was expected to reach 320 million euros.
As financial data indicate, this year’s third quarter profits has been much less than the 754 million euros the bank made in the same quarter last year.
The bank said it has committed a large amount of earnings to litigation costs, which were associated with bad mortgage loans to borrowers with unreliable credit.
Legal actions have weighed heavily on bank profits for several quarters, with charges for the third quarter likely to hit 4.1 billion euros.
The legal charges follow a series of problems for Germany’s largest bank in the wake of the 2008 financial crisis.
Europe plunged into financial crisis in early 2008. The worsening debt crisis forced the EU governments to adopt harsh austerity measures and tough economic reforms, which have triggered incidents of social unrest and massive protests in many European countries.
Last year, the bank slashed about 1,900 jobs, mostly outside Germany, as the eurozone’s debt crisis hurt profits.
In 2011, the US Justice Department sued Deutsche bank for more than USD 1 billion for defrauding the government.
GMA/PR
Source Article from http://www.presstv.ir/detail/2013/10/29/331991/germanys-deutsche-bank-profits-dwindle/
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