Deutsche Bank Profits Dented By Regulatory Fine

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Deutsche Bank AG , Germany's largest bank, on Sunday announced quarterly profit that fell by more than expected even as the revenue came in above analysts' projections. First-quarter profit fell to €559 million ($607.8 million) from €1.1 billion in the year-ago quarter, while revenue rose 24% to €10.4 billion. The consensus analyst forecast was for a profit of €770 million on €8.9 billion revenue. The bank said the 50% drop in earnings despite strong revenue growth was largely due to penalties assessed in settlements with U.S. and U.K. regulators.

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