Wednesday, Oct. 7, 2015 | 11:57 p.m.
BERLIN — Germany's biggest bank, Deutsche Bank, has announced it expects to report a third-quarter net loss of 6.2 billion euros ($7 billion) because of a combination of write-downs and litigation costs.
Deutsche Bank AG said Wednesday night that its management board will recommend a reduction or possible elimination of the dividend for this year.
The bank said an impairment of "all goodwill and certain intangibles" in its corporate banking and securities and private and business clients division will cost around 5.8 billion euros. It said that is a result largely of higher regulatory capital requirements on measuring those units' value and of expectations regarding its planned move to spin off Postbank branches in Germany.
It also is making litigation provisions of some 1.2 billion euros. Full results are expected Oct. 29.
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