Deutsche Bank faces €630m increased litigation spend


By Neasa MacErlean

31 July 2013 at 06:18 BST


Deutsche Bank has reported an increase in legal spend in its latest quarterly results.

Deutsche bank spends more on legal fees to deal with high litigation costs

The Frankfurt-based company warned that it faces costs of €630 million of Euros in relation to litigation. It revealed that it is dealing with numerous legal issues covering the sale of mortgage-backed securities, allegations that it manipulated global benchmark interest rate figures and a particular dispute with representatives of the late media magnate, Leo Kirch. Co-chief executive Anshu Jain said: 'We expect settlements to accelerate in the coming quarters,' according to Euronews. But he did not specify which matters were expected to settle.

 
   
 
 
 

Also read...

Bank of America to pay $16.65b record fine in US

Bank of America's agreed US$16.65b payment is 'the largest civil settlement with a single entity in American history', according to Attorney General Eric Holder.