A message from John Cryan on Deutsche Bank´s financial results 2016 (Deutsche Bank SpA)
(WorldNews Italy)

(Source: Deutsche Bank SpA) Dear Colleagues, In many of my e-mails over the past year, I wrote about how tough our environment was: low interest rates, difficult markets and, on top of that, the US Department of Justice`s initial settlement proposal of 14 billion dollars, which triggered substantial concerns. All of these factors left their mark on our results, as indeed did the actual settlement. For the fourth quarter of 2016, we therefore had to post a pre-tax loss of 2.4 billion euros. This stems from the fact that we are resolving legacy matters and systematically cleaning up the bank: litigation charges, impairments, restructuring and severance charges as well as de-risking costs of...