Deutsche Bank AG reported a full-year 2017 net loss of €497 million, narrowing from a loss of €1.36 billion a year earlier.
The result included a noncash charge of approximately €1.4 billion arising from a valuation adjustment to the German lender's U.S. deferred tax assets as a result of the new U.S. Tax Cuts and Jobs Act.
For the fourth quarter of 2017, the bank booked a net loss of €2.19 billion, up from a loss of €1.89 billion in the year-ago period.
More details to follow.
