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How one-off are Deutsche Bank’s one-offs?

The bank had a great year last year, after adjusting for legal bills, restructuring and some other stuff. That is €6.3bn of adjustment...

Deutsche Bank had a great year last year. This may come as a surprise to you. You may have thought it was having a pretty torrid time lately. Well, that’s true too – last week it announced a surprise loss of €1.2 billion for the fourth quarter. So, which was it? Was 2013 a good year or a bad year for the German bank?

As ever with bank results, it kind of depends on how you look at it.

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