Deutsche Bank slides to €2.2bn loss

Deutsche Bank has reported an unexpected €2.15bn (£1.84bn) loss as it slashed the value of some of its more risky assets and absorbed high legal fees.

The bank, co-run by Anshu Jain, said its core performance was strong but litigation in areas such as Libor rigging had cost it €1bn. Mr Jain said 2013 looked like being a much better year, but warned restructuring was "a journey that will take years, not months".