Finance
Deutsche Bank Earmarks $1.4 Billion Provision in Profits Hit
- Bank sets aside sum to cover Postbank shareholders’ lawsuit
- Cologne court indicates it may partially side with claimants
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Deutsche Bank AG is putting aside as much as €1.3 billion ($1.4 billion) in legal provisions, warning this will hit profits.
The bank will book the potential payment in the current quarter, it said in a statement late Friday. That will impact “second quarter and full-year profitability,” it said, while adding that the ultimate amount of the provisions is not clear yet.