By Eyk Henning
FRANKFURT-- Deutsche Bank AG said Thursday it swung to a net
profit of EUR438 million ($494 million) compared with a Dow Jones
Newswires analyst consensus forecasting a EUR289 million loss.
Deutsche Bank reported a EUR1.36 billion loss in the same period a
year earlier.
Fourth-quarter revenue rose to EUR7.83 billion from EUR6.6
billion reported the previous year, due to an uptick in client
activity in the bank's large fixed-income and currency trading
operations.
Deutsche Bank, Germany's largest bank by market value, is one of
a group of global lenders under investigation for their alleged
role in manipulating the London interbank offered rate, or Libor,
and currency fixings, and of violating U.S. sanctions. As a result
it potentially faces billions of euros in fines.
Apart from the looming fines, Deutsche Bank is also in the midst
of a strategy review that may result in it selling or cutting back
some activities such as retail banking or investment banking,
according to people familiar with the matter. The bank plans to
announce the results of its review in the spring, when it belatedly
hosts its annual news conference originally scheduled Thursday.
Write to Eyk Henning at eyk.henning@wsj.com
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