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Main » 2015 » December » 29 » € 6 billion losses Deutsche Bank
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€ 6 billion losses Deutsche Bank
 
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Deutsche Bank - the largest by number of employees and total assets of Germany financial conglomerate - reported a net loss for the third quarter of the current year in the amount of € 6 billion ($ 6.6 billion), € 1.2 billion of which was spent on legal costs.

 

 

The bank's income fell by 7 percent in the third quarter compared with the same period last year, reaching € 7.3 billion, mainly due to the shares of the Chinese bank's Hua Xia Bank, in which the share of the German bank plans to sell.


With this in mind, the newly appointed CEO John Kryanev decided to cut about 30,000 jobs over the next two years, and to close its offices in 10 countries.

 

The Financial Times said on the reduction of personnel by a total of 30,000; Wall Street Journal reports on the reduction of staff numbers by 36 000 while CNBC said that this number will reach 15 000 jobs. Bloomberg reported a reduction of 26,000 jobs over two years.


At the conference, John Kryanev told analysts and reporters that the bank is gradually executes the plan:


"Management also decided to close some of our branches in other countries. I promise that we will be careful in this process. "


The FT says the closure of offices of Deutsche Bank in Argentina, Chile, Peru, Mexico and Uruguay, Denmark, Finland, Norway, New Zealand, and Malta. 

 

A source

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