Updated on
Summary The bank cited market uncertainty, lack of investor risk appetite leading to subdued activity.
Germanys Deutsche Bank saw net profit fall 69 percent to €186 million ($245.06 million) in the fourth quarter as the eurozone debt crisis hurt its investment banking operation and lowered income from trading stocks and bonds.The figure compares to €605 billion in the same quarter last year.Total net revenues were off 7 percent at €6.89 billion.The banks corporate and investment bank, its investment banking and securities trading division, saw revenues drop 26 percent in the fourth quarter, to €3.4 billion from €4.6 billion a year earlier.The bank cited continued market uncertainty and lack of investor risk appetite leading to subdued market activity.
