Deutsche Bank bleeds red ink over cleanup

Deutsche Bank’s posted a fourth-quarter pretax loss of 2.6 billion euros (US$3.5 billion) hit by hefty litigation and restructuring charges as the bank downsizes to a leaner investment banking environment under new leadership.

Germany’s largest lender said strong operating results at its business divisions were overshadowed by a 1.9 billion euro goodwill impairment to pay for a new divisional structure and to hive off assets into a non-core unit.

via Business feed http://www.scmp.com/business/banking-finance/article/1140223/deutsche-bank-bleeds-red-ink-over-cleanup