Deutsche Bank said it expects to post a net loss of about EUR6.7bn ($7.3bn) for 2015 after putting aside more money for litigation, write-downs and restructuring charges.
The full year results include previously disclosed impairments taken in the third quarter of EUR5.8bn of goodwill and intangibles, full year litigation provisions of approximately EUR5.2bn and restructuring and severance charges of approximately EUR1bn.
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The German banking giant in an unscheduled announcement revealed that it may post a fourth-quarter net loss of EUR2.1bn, driven by litigation charges of about EUR1.2bn, and restructuring and severance charges of EUR0.8bn.
Deutsche Bank, which is set to report 2015 earnings on 28 January 2015, also said that it expects to report a full year 2015 revenues of EUR 33.5bbn.
Additionally, the lender expects the sale of its stake in China’s Hua Xia Bank to close in the second quarter 2016.
The sale of the 19.99% stake in the Chinese lender will boost Deutsche Bank’s common equity Tier 1 capital ratio as of 31 December 2015 by about 50 to 60 basis points, the bank added.
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