AFP, Frankfurt :
Germany’s biggest lender Deutsche Bank said Friday that Donald Trump’s tax reforms in the US pushed it into the red in 2017.
The Frankfurt-based bank said in a statement that its net loss amounted to 512 million euros ($640 million) last year, narrower than the loss of 1.4 billion euros in 2016.
Revenues fell to 26.4 billion euros in 2017 from 30 billion euros the year before.
At a pre-tax level, however, Deutsche Bank was back in the black, notching up a profit of almost 1.3 billion euros, compared with a loss of 810 million euros the previous year.
Germany’s biggest lender Deutsche Bank said Friday that Donald Trump’s tax reforms in the US pushed it into the red in 2017.
The Frankfurt-based bank said in a statement that its net loss amounted to 512 million euros ($640 million) last year, narrower than the loss of 1.4 billion euros in 2016.
Revenues fell to 26.4 billion euros in 2017 from 30 billion euros the year before.
At a pre-tax level, however, Deutsche Bank was back in the black, notching up a profit of almost 1.3 billion euros, compared with a loss of 810 million euros the previous year.
