Deutsche Bank, Europe’s biggest lender by assets, posted a €2.15bn loss in the fourth quarter of 2012. Despite its disappointing performance, the German lender said it will still pay dividends for last year to its shareholders worth €0.75 per share.
In a statement, the banks said the loss was the result of high restructuring costs. The bank’s new managers, Anshu Jain and Juergen Fitschen, said they plan to cut operation costs by €4.5m over the next two years. The cuts will likely impact the bank’s employees, who reportedly did not receive any pay increases last year.
