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European banks struggling to stay above water

Deutsche and Credit Suisse face billions in settlements that will drag on profitability for years

The troubles at Deutsche Bank, the largest lender in Europe's dominant economy, have loomed largest over markets. The latest settlement will cause a US$1.2 billion pre-tax hit to fourth-quarter earnings, which may push the bank into its second-straight annual loss.


RELIEF that Deutsche Bank AG and Credit Suisse Group AG cleared legal hurdles is likely to soon give way to concern over a bigger problem: European lenders are still struggling to make money.

While the combined US$12.5 billion in settlements the two agreed to pay to

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