FRANKFURT: Deutsche Bank AG’s revenue contracted for an eighth straight quarter in the final months of last year, complicating chief executive officer Christian Sewing’s plan to turn around the lender through cost cutting.
In a period that was overshadowed by market gyrations and images of police raiding the bank’s headquarters in November, the Frankfurt-based lender earned �5.58bil (US$6.38bil) in revenue. Fixed-income trading, a key contributor, fell 23%, worse than peers.
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