John CryanREUTERS/Christian HartmannDeutsche Bank co-CEO John Cryan.
Deutsche Bank has announced a massive write-down, and the stock was down as much as 7% after hours.
The bank said it expects a third-quarter loss of 6.2 billion euros ($6.96 billion).
The board will recommend a cut to, and a possible elimination of, the dividend for the full year of 2015.
The bulk of the write-down is based on goodwill impairments driven by the effects of regulation on the bank.
There is also a 600 million-euro ($674 million) write-down based on an updated valuation for Hua Xia Bank in China.
Deutsche Bank appointed a new co-CEO, John Cryan, in June.
He replaced then-co-CEO Anshu Jain, who resigned on June 30, and will become the sole CEO when the other co-CEO, Juergen Fitschen, steps down next year.
Here's the statement from the bank:

Frankfurt am Main, October 7, 2015 — Deutsche Bank (XETRA: DBKGn.DE/NYSE:
DB) expects to incur charges that will materially impact third quarter 2015
results:
  • An impairment of all goodwill and certain intangibles in Corporate
    Banking & Securities (CB&S) and Private & Business Clients (PBC) of
    approximately EUR 5.8 billion. This is largely driven by the impact of
    expected higher regulatory capital requirements on the measurement of the
    value of these segments as well as current expectations regarding the
    disposal of Post bank.
  • An impairment of the carrying value of Deutsche Bank's 19.99% stake in
    Hua Xia Bank Co. Ltd. of approximately EUR 0.6 billion. This reflects an
    updated valuation triggered by a change of the intent of the holding as
    Deutsche Bank no longer considers this stake to be strategic.
  • Litigation provisions of approximately EUR 1.2 billion, the majority of
    which are not expected to be tax deductible. Final litigation provisions in
    the quarter may be affected by further events before we finalize and report
    third quarter results.
The impairment of goodwill and intangibles and of the Hua Xia investment
will have no significant impact on Deutsche Bank's regulatory capital
ratios. Deutsche Bank currently expects to report a fully-loaded CRR/CRD4
Common Equity Tier 1 ratio for the third quarter of approximately 11%,
which includes the impact of European Banking Authority Regulatory
Technical Standards ("Prudential Valuation") that were adopted in the
quarter.
Based on these charges, Deutsche Bank expects to report a third quarter
income before income taxes (IBIT) loss of approximately EUR 6.0 billion and
a net loss of EUR 6.2 billion. Year-to-date results through the third
quarter are expected to be an IBIT loss of approximately EUR 3.3 billion
and a net loss of EUR 4.8 billion.
Excluding the impact of the impairment of goodwill and intangibles, the
third quarter IBIT loss would be approximately EUR 0.2 billion and the net
loss would be approximately EUR 0.4 billion, largely reflecting the
litigation provisions and Hua Xia impairment. On the same basis, Deutsche
Bank expects to remain profitable year-to-date through the third quarter
with IBIT of approximately EUR 2.5 billion and net income of approximately
EUR 0.9 billion.
As part of the planning for the implementation of Strategy 2020, the
Management Board will recommend a reduction or possible elimination of the
Deutsche Bank common share dividend for the fiscal year of 2015.
All the aforementioned amounts are estimates. The final amounts will be
determined in the coming weeks and will be disclosed in our announcement of
third quarter results, together with details of the implementation of
Strategy 2020, which is now scheduled to occur on October 29.