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>> It's been under a cloud for months as it pays the price of its many past misdeeds, and Deutsche Bank's fourth quarter results didn't clear them away. Net loss was 1.9 billion euros, worse than the expected 1.16 billion. Despite the CEO's smiles, litigation costs are still hampering the German lender's recovery.
>> I do not want to beat about the bush. There were times in 2016 when we were under immense pressure. This was especially true in the autumn, when the US Justice Department's $14 billion opening demand became public knowledge.>> At that point, there were fears the bank might need a bailout, but the final 7.2 billion settlement offered some relief.
There have been more fines since then as the bank deals with past offenses, including selling toxic mortgages and sham Russian equities trades.>> Deutsche Bank is predominantly an investment bank, and it's that business which is just finding it tougher to make money from. So there's not another alternative for it to turn to.
>> Deutsche's bond-trading cash cow has helped. Revenues in the division were up by 11%. But some of Deutsche's Wall Street rivals did far better, and that means the pressure on CEO John Cryan is increasing.>> He says that he's gonna make some changes at certain areas of businesses, he's gonna pull back from some markets, but it doesn't look like there's gonna be any complete overhaul of any business division.
And so I think that's left people thinking, well, how is this bank gonna come back to the heights that it once was?>> Cryan has vowed to reduce the cost base by a further near 3 billion euros, slashing bonuses by 11%. But new civil lawsuits have emerged, and Deutsche has had to hike litigation provisions by more than a third.
All eyes are now on another expected strategy update this spring.