Expects positive 430 mln eur impact on Q3 pretax result (Il Sole 24 Ore Radiocor) - Berlin, 22 Aug - German lender Deutsche Bank said it has reached agreements with over 80 plaintiffs representing almost 60% of the total Postbank claims, settling on the basis of 31 euros per share as proposed by the bank.

Among the plaintiffs who agreed to a settlement is also the largest individual plaintiff in these proceedings, representing about one third of all claims.

Deutsche Bank, which earlier this year booked a 1.3 billion euro provision for the litigation, expects that the settlement agreements concluded so far will on average consume about 45% of the total provisions which were taken in relation to the claims by plaintiffs covered by the agreements. The remaining provisions related to these specific plaintiffs will be released.

Deutsche Bank anticipates that this will lead to a positive impact of approximately 430 million euros on its pre-tax profit in the third quarter.

Should Deutsche Bank enter into settlement agreements with additional plaintiffs, this could result in further positive implications on the total provisions taken for the litigation.

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(RADIOCOR) 22-08-24 08:19:17 (0138) 5 NNNN