Deutsche Bank (DB) has revised down its 2012 net profit to €300M from €700M after it increased...

|About: Deutsche Bank AG (DB)|By:, SA News Editor

Deutsche Bank (DB) has revised down its 2012 net profit to €300M from €700M after it increased its litigation reserves by 33% to €2.4B due to unspecified lawsuits related to U.S. mortgages and unrelated regulatory inquiries. Deutsche, which also cuts its pretax profit to €800M from €1.4B, has been named in a Freddie Mac lawsuit over Libor manipulation. (PR)