Europe

Legal costs help push Deutsche Bank to $2 billion Q4 loss

Deutsche Bank says it lost 1.89 billion euros ($2.02 billion) in the fourth quarter as losses on the sale of its Abbey Life unit and costs for legal fines and penalties weighed on the bottom line.

The loss was even larger than the 2.12 billion euro loss from the year-ago quarter.

The bank strengthened an important measure of its financial solidity and CEO John Cryan said he was optimistic about the coming year.

Deutsche Bank's earnings have suffered as it sheds activities and assets to meet tougher regulation, and as it struggles to put legal and regulatory issues related to past misconduct. The bank this month agreed to pay $7.2 billion to U.S. authorities over its sale of securities based on mortgages blamed for helping start the financial crisis.