Deutsche Bank said Sunday its profits fell around 50% year on year in the first quarter, during which it agreed to pay $2.5 billion dollars to settle a rate rigging case with US and British authorities.

Net profits came to 559 million euros ($608 million), down from 1.1 billion euros in the first quarter of 2014. Germany's biggest bank said its litigation costs for the period amounted to 1.5 billion euros.