Deutsche Bank reported a bigger-than-forecast quarterly loss of 3.15 billion euros ($3.5 billion), underlining the challenges it faces as it attempts to turn around its struggling business.

Deutsche Bank had this month flagged it would lose around 2.8 billion euros ($3.12 billion) in the quarter when it announced a restructuring plan that will see 18,000 jobs go and cost 7.4 billion euros ($8.25 billion) overall.

The scale of the loss, compared with a profit of 401 million euros ($447 million) a year ago, prompted the bank’s shares to slide as much as 5.8 percent in Frankfurt. The bigger loss stemmed from higher goodwill impairment charges than foreseen when the bank announced its restructuring on July 7, it said.

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