Deutsche Bank to post third-quarter litigation costs of $1.13 billion

Reuters
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FRANKFURT (Reuters) - Deutsche Bank on Friday said it expected to publish litigation costs of 894 million euros ($1.13 billion) for the third quarter of 2014. The costs are for a number of items and are mostly not tax-deductible, the bank said in a statement. Earlier on Friday, sources told Reuters that Deutsche was bracing to pay almost 1 billion euros for Libor-related fines as it nears a deal with U.S. and UK authorities to settle allegations it attempted to manipulate the benchmark interest rate. The bank has already paid 6.1 billion euros in the past two and a half years as it attempts to clear a backlog of litigation and investigations, of which the Libor settlement is considered to be the most important. (Reporting by Thomas Atkins; Editing by Jonathan Gould)

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