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.