Deutsche Bank said mortgage-related litigation in the US has led to a €600 million ($776 million) increase in the amount of provisions for such action to €2.4 billion, also hitting its net income, as it adjusted figures for its 2012 results under international financial reporting rules.

Germany’s biggest bank said that "new developments related to specific existing legal matters have occurred after the disclosure of the bank's preliminary, unaudited 2012 results on 31 January 2013”.

“The new developments require provisions concerning US mortgage-related litigation in some of the bank’s legacy businesses that are assigned to the non-core operations unit, as well as unrelated regulatory investigations,” it said in a statement today.

The rise in litigation provisions cuts the previously announced income before income taxes by €600 million to €800 million, and net income by €400 million to €300 million.