Deutsche Bank To Cut Jobs After Drop In 2023 Profit

Deutsche Bank's net profit fell 16 percent to 4.2 billion euros last year (Credit: AFP)

Germany's biggest lender Deutsche Bank on Thursday announced plans to slash 3,500 jobs as part of a major cost-cutting drive after its net profit fell in 2023.

The group reported a net profit attributable to shareholders of 4.2 billion euros ($4.5 billion), a 16-percent drop on the year before when profits were boosted by a one-off tax benefit.