Deutsche Bank takes €450m charge for fraud

Germany’s Deutsche Bank said it took a charge of around €450m last year in relation to share trading fraud, but declined to give any details yesterday.

The bank increased its provisions for “external fraud” to €475m in 2015 from €20m in 2014, according to its annual report.

“The increase in the event type ‘external fraud’ is caused by a provision for equity trading fraud,” the bank said in the report, which was published in March.