| Hurt by Legal Costs, Deutsche Bank Reports Slide in Profit
The New York Times, April 27, 2015 Monday
FRANKFURT -- Deutsche Bank, Germany's largest bank, said on Sunday that its net profit fell by half in the first quarter as it absorbed the legal costs of past wrongdoing by bank employees. Profit in the first three months of the year was 559 million euros (about $608 million), Deutsche Bank said, down from 1.1 billion euros a year earlier. Although revenue rose 24 percent, to 10.4 billion euros, in the quarter, profit fell because of the 1.5 billion euros that the bank set aside to cover a...