Deutsche Bank posts worst quarterly loss in four years

Deutsche Bank expects the turnaround strategy to cost a total of €7.4bn and is aiming to return to profit next year.

It is the bank's biggest quarterly net loss since the third quarter of 2015, when that figure reached €6bn, and is the second largest since the final months of 2008, when the financial crisis took hold. It also follows a €201m profit in the first quarter of 2019.

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"By and large our strategy is no longer being called into question, either by our investors or by the media or -- most importantly -- by our clients. And I have the impression that you too believe we are on the right track."