In 2015 the losses of German bank was EUR 6.8 billion versus the profit of the previous year.

For the first time in seven years the largest German bank Deutsche Bank ended the year with losses, amounting to EUR 6.772 billion versus the profit of the previous year (EUR 1.691 billion), as it is said in the final financial reporting of the company, Correspondent reports.

In the meantime, the proceeds of the bank for the reporting period reached EUR 33.525 billion, having increased by 4.9% versus with the previous year. Thus, the annual bank indicators coincided with forecasts of the financial institution: Deutsche Bank expected the losses for the year at EUR 6.7 billion, and the proceeds at EUR 33.5 billion.

As per results of the fourth quarter 2015, the net loss of Deutsche Bank reached EUR 2.125 billion versus the profit of EUR 441 million in the previous year. The proceeds made up EUR 6.642 billion, which is by 15.2% lower than the indicator for the same period of the previous year.

One of bank managers John Cryan noted that the previous year was difficult for the bank, and the beginning of 2016 demonstrated the high volatility on financial markets.

In October 2015 Deutsche Bank informed that it plans to downsize 15 thousand of employees within the strategic plan of group development. The bank also plans to sell assets, amounting to EUR 4 billion, as the result of which the number of employees will reduce by 20 thousand people in the next two years. In addition, the financial organization plans to cease work in 10 countries – Argentina, Chile, Mexico, Uruguay, Peru, Denmark, Finland, Norway, Malta and New Zealand.

In last September Deutsche Bank passed the decision to partially cease business in Russia and until the end of 2015 to close Russian Division on Investment and Banking Services.

Deutsche Bank is the largest bank of Germany in terms of assets, founded in 1870.