BERLIN (dpa) – Deutsche Bank, Germany’s largest bank, said Friday that it has raised its reserves to cover legal liabilities from 2.2 billion euros (2.78 billion dollars) in the second quarter to three billion euros in the third quarter.
Legal costs in the third quarter alone totalled 894 million euros, it said, indicating that litigation continues to be large burden to the Frankfurt-based financial institution.
It released the figures ahead of its full third-quarter results, due Wednesday.
The list of legal actions against the bank is long and a large source of uncertainty.
They include lawsuits over its involvement in the US mortgage bond market, allegations about its role in the Libor benchmark rate scandal and claims about manipulation of the gold and silver markets.