Deutsche Bank AG informed that its profitability will suffer more than it was expected as reduction of costs and business as a whole hit the largest investment bank in Europe, Bloomberg reports.

German bank reported the lowest third quarter revenue since 2010, while also predicted slight yearly decline. Such situation is caused by serious decline in trading.

The company’s managers are concentrated on implementation of strategy aimed to increase profit through cost cuts and focus on a few but key business directions. It is expected that this year the bank will show first annual profit in four years.

In third quarter income from trading of fixed income instruments and currency fell by 15% compared with the last year. The similar decline is observed in equity trading unit.