However, its net loss for the full year stood at €1.4bn compared €6.8bn in 2015.
The group’s net revenues were 10% lower at €30bn in 2016 compared to the figure in the previous year.
Deutsche Bank CEO John Cryan said: “For the fourth quarter of 2016, we therefore had to post a pre-tax loss of €2.4bn.
“This stems from the fact that we are resolving legacy matters and systematically cleaning up the bank: litigation charges, impairments, restructuring and severance charges as well as de-risking costs of the Non-Core Operation Unit (NCOU) added up to €2.9bn.”
The lender said that it revenue was also impacted by the downsizing or exiting of a number of businesses as part of the implementation of Strategy 2020.
Besides, the revenue was impacted by negative news flow around the US Department of Justice (DoJ) residential mortgage-backed securities (RMBS) settlement in October 2016.
In September last year, Deutsche Bank said that the Justice Department has asked it to pay $14bn to settle several mortgage probes in the US.
Earlier this month, it finalized a $7.2bn deal with the DoJ to end several probes related to the firm’s sale of mortgage-backed securities.
The bank’s provisions for bad loans increased by 45% to €1.4bn last year, due to the impact of adverse macro-economic developments on the shipping, oil & gas and metals & mining sectors.
While its revenue from global markets division fell 3% to €1.5bn in the October-December quarter, the bank’s corporate and investment banking revenues increased by 2% to €1.8bn.
As part of its restructuring efforts, the bank merged some branches in Germany and will be closing a further 181 branches in 2017.
