Deutsche Bank’s woes grow with £5.2 billion loss

Deutsche Bank has laid bare the extent of its troubles after last week’s profits warning.

Germany’s biggest bank lost €6.8 billion (£5.2 billion) last year, its first full-year loss since 2008, as its investment bank, largely based in London, ran up big losses and it set aside more cash for past litigation issues.

The shares fell 2% and have dropped by a third in the past 12 months.

New chief executive John Cryan, who took over from Anshu Jain in July, admitted that the share price was a concern but said he could not be seen to be trying to manage it and instead had to get on with restructuring the bank to improve it.