FRANKFURT, Germany — Deutsche Bank rebounded to make a surprise fourth-quarter profit of 441 million euros (US$498 million) as it saw lower charges for settling accusations of wrongdoing.
The bank also saw higher revenues at its investment banking division from trading bonds and foreign exchange in volatile markets at the start of the October-December quarter.
The bank’s fourth-quarter earnings beat estimates among analysts surveyed by financial information provider FactSet who had expected a loss of 155 million euros.
The profit for the October-December quarter compared to a loss of 1.365 billion euros in the same quarter the year before.
Co-CEO Anshu Jain cautioned Thursday that litigation expenses ��will remain a challenge in 2015�� as well. The bank faces several investigations connected with allegations of manipulating foreign exchange and interest benchmarks as well as other matters. Litigation expenses for settling such cases with regulators and law enforcement has been a significant cost recently for several major global banks.