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DUBAI (Reuters) – The biggest bank in Germany lost nearly $ 3.5 billion in the second quarter, following a radical restructuring to boost profits.
Deutsche Bank announced Wednesday it has acquired 3.4 billion euros (3.8 billion dollars) for the quarter ended in June, resulting in a net loss of 3.1 billion euros (3.46 billion euros). of dollars).
The bank recorded a larger than expected loss: on July 7, she thought the restructuring costs would cause her a net loss of 2.8 billion euros, or $ 3.1 billion, for the second quarter .
Without the restructuring costs, the bank announced a net profit of 231 million euros, or 257.4 million dollars, a decrease of 42% compared to the same period last year.
Deutsche Bank announced its decision to cut 18,000 jobs and significantly reduce its investment bank as part of a costly restructuring. According to the bank, more than 900 employees have been informed of the end of their role in the company.
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