Deutsche Bank reports €735m loss in 2017

German banking major Deutsche Bank has reported a net loss of €735m for 2017 in its audited results, significantly higher than the net loss of €497m published in its preliminary and unaudited results last month.

The majority of the difference between the bank’s preliminary and final audited results is attributed to the further deeper analysis of deferred tax assets (DTAs) resulted in a valuation adjustment to the bank’s DTAs in the UK.

Deutsche Bank’s Common Equity Tier 1 capital ratio (fully-loaded) was 14% at the year-end 2017, compared to 11.8% at the end of previous year 2016.

Risk weighted assets stood at €344bn in 2017, a drop of 4% compared to €358bn a year ago.

The German bank’s net revenues stood at €26.4bn in 2017, a decline of nearly 13% over €30bn reported a year ago.

Despite the losses, total compensation awarded to Deutsche Bank employees increased to €10.3bn last year from €8.9bn in 2016.

The bank’s Management Board and Supervisory Board is also scheduled to propose a dividend of 11 cents per share to the Annual General Meeting.

Deutsche Bank CEO John Cryan said: “We remain committed to our objective of delivering a net profit and a competitive dividend payout for 2018.

“In the meantime we have established the basis for realising Deutsche Bank’s full potential.”