Legal expenses amounting to 1,2 billion euros ($1.65 billion) and a fall in debt trading has cost Deutsche Bank AB, Europe’s largest investment bank by revenue, 94 percent of its third-quarter profit.

In the three months ending with September, the bank’s net income plunged to 41 million euros from 747 million earlier this year, the Frankfurt-based bank announced on its website today. That amount falls very short of the average forecast of 430 million euro by analysts.

The firm has allegedly had a role in rigging lending rates and its co-Chief Executive Officers Anshu Jain and Juergen Fitschen are having to deal with legal probes over the matter and with lawsuits relating to the U.S. housing market. Deutsche bank is alone, however, in seeing a slowdown in fixed-income trading as investors are holding back until the Federal Reserve announced its renewed stimulus-cutting plan in face of a stubbornly weakening U.S. economy.

Deutsche Bank dropped as much as 3.3 percent in Frankfurt trading. The shares fell 2.7 percent to 34.95 euros at 9:11 a.m., valuing the company at 35.7 billion euros. The stock rose 6.4 percent this year compared with a 16 percent increase in other European Banks.

Jain and Fitschen the bank’s provisions for legal costs to 4.1 billion euros in the three months through September, according to the statement.

After the release of the firms’earnings, Chief Financial Officer Stefan Krause said in a conference with analysts that the bank is trying to put litigation behind it.

50 of the banks’s employees are currently under investigation to determine whether trader tried to rig benchmark interest rates. More than a dozen lenders around the world have to answer to regulators, with fines resulting from the issue thus fat amounting to $2.6 billions.

Deutsche Bank has said that its own internal probe indicates no wrongdoing by current or former management board members.