Deutsche Bank Legal Tab Passes $12 Billion With Bills to Follow
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Deutsche Bank AG’s bill for fines and legal settlements since the financial crisis has surpassed 11 billion euros ($12.1 billion) and the company said costs probably won’t let up in coming quarters.
The bank recorded 1.23 billion euros of legal expenses in the second quarter, primarily related to “legacy” U.S. mortgage matters, Deutsche Bank said in a statement on Thursday. “We anticipate litigation to remain a burden in the coming quarters,” the company said.