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Deutsche Bank’s Turnaround Costs Lead to Big Loss

July 24, 2019

Deutsche Bank’s plans to retreat from risky investment banking, fire thousands of people and return to its German roots may eventually create a healthier lender. In the short term, the overhaul will be a major financial drain.

That was made clear on Wednesday, after the bank reported a loss of 3.2 billion euros, or $3.6 billion, from April through June, as it subtracted the costs of a restructuring plan announced earlier this month. The plan is seen as a last-ditch attempt to arrest a decade of decline.

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