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.
