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Deutsche Bank CEO: Q4 earnings ‘inadequate’

By David McHugh
Published January 29, 2014 10:38am ET
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Deutsche Bank CEO: Q4 earnings ‘inadequate’
CEOs of Deutsche Bank Anshu Jain, right, and Juergen Fitschen stand together prior to the annual press conference in Frankfurt, Germany, Wednesday, Jan. 29, 2014. Germany's biggest bank had a surprise loss of 965 million euros (US dollar 1.32 billion) in the fourth quarter, as earnings were burdened by 528 million in costs for court settlements and investigations into alleged past misconduct in the fourth quarter. (AP Photo/Michael Probst) | Michael Probst

FRANKFURT, Germany (AP) — Deutsche Bank’s co-CEO said Wednesday the bank’s fourth-quarter earnings were “inadequate,” but vowed the bank was on track to strengthen its finances for the long term.

Germany’s biggest bank had a surprise loss of 965 million euros ($1.32 billion) in the fourth quarter, as earnings were burdened by 528 million in costs for court settlements and investigations into alleged past misconduct in the fourth quarter.

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