Deutsche Bank's securities unit reports Q4 loss on revenue slump

Frankfurt

DEUTSCHE Bank's securities unit posted a loss in the fourth quarter with each of the businesses reporting a slump in revenue as co-chief executive officer John Cryan scales back trading activities to bolster returns. The loss of 1.15 billion euros (S$1.8 billion) in the period compares with a pretax profit of 323 million euros a year earlier, the company said on Thursday. Revenue at the corporate banking and securities unit slumped 30 per cent to 2.1 billion euros, with a negative return on equity.

Mr Cryan, 55, who took over as co-chief executive from Anshu Jain in July, is shrinking the debt trading empire built by his predecessor as part of a pledge to bolster capital levels and boost profitability. While the last three months of the year are typically the weakest for invest…