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Deutsche Bank new chief flags record Q3 loss, plans to axe 23,000 staff

John Cryan also warns of possible 2015 dividend cut

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Mr Cryan said in July that raising additional equity would not solve the bank's core problem of low financial returns. But some analysts said that a capital increase is inevitable - probably next year.

Frankfurt

DEUTSCHE Bank's new boss John Cryan set about cleaning up Germany's biggest bank, flagging a record pre-tax loss of six billion euros (S$9.5 billion) for the third quarter and warning investors to brace for a possible 2015 dividend cut.

Mr Cryan became chief executive in