The full-year 2017 net loss of €497 million that Deutsche Bank announced on Friday had been expected, after its warning on January 5 that it would be booking a €1.4 billion charge in relation to recent US tax reforms.
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James von Moltke, Deutsche |
However, there was another figure that stood out as evidence of the extent to which the bank’s moves to cut clients have shrunk core businesses.
The bank has in recent times been focusing on cutting those clients with whom it cannot make money across multiple products and geographical areas, in favour of those where it can do just that.
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