Deutsche Bank AG will as soon as Thursday announce a settlement of more than EUR2 billion ($2.15 billion) with regulatory authorities in the U.S. and Britain in response to charges its employees tried to manipulate interest rates, according to people familiar with the issue.
In preparation for the record fine, Deutsche Bank said on Wednesday it expected to book litigation costs of some EUR1.5 billion in the first quarter when it announces results next week. Germany's largest lender said it would also announce "near record revenues" and a profit for the first quarter. Litigation costs will dent profits, the bank said.
A settlement would resolve investigations by U.S. federal and New York state regulators and law-enforcement officials, as well as the UK's Financial Conduct Authority. The offices have been investigating allegations that Deutsche Bank employees sought to manipulate the London interbank offered rate, or Libor, a benchmark for interest rates on trillions of dollars of financial contracts.
http://www.marketwatch.com/story/deutsche-bank-expects-a-profit-despite-litigation-2015-04-22