Deutsche Bank Shares Fall On Large Third-quarter Charges

Deutsche Bank AG shares fell in the extended session Wednesday after the bank said it would take charges, including one of 5.8 billion euros, in the third quarter. Deutsche Bank shares fell 5.7% to $27.14. The bank said expected higher regulatory requirements in its corporate banking and securities and private and business clients units are largely responsible for the 5.8 billion euro charge. The bank also said it expects a 600 million euro charge on the carrying value of its 20% stake in Hua Xia Bank Co. Ltd., and litigation provisions of 1.2 billion euros. Based on the charges, Deutsche Bank expects to post a third quarter loss before income taxes of about 6 billion to 6.2 billion euros.

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