Deutsche posts €1.9bn net loss

DEUTSCHE Bank fell further behind its Wall Street rivals in 2016, lagging their strong rebound in bond trading in the last three months of the year and increasing pressure on chief executive John Cryan ahead of an expected strategy update this spring. Germany’s flagship lender posted a net loss of €1.9 billion (R27.4bn) in the final quarter of 2016 as legal costs for past misdeeds weighed on results. Deutsche Bank shares fell more than 5 percent in trading yesterday. Analysts had expected the bank to post a loss of €1.16bn. Revenues at its cash cow bond trading division were up 11 percent in the quarter as it benefited from a surge in trading across interest rate products, commodities and foreign exchange. – Reuters THAILAND