Deutsche Bank must dread year ends. The German bank made a €1 billion net loss in the last three months of 2013, the second consecutive year its fourth quarter has been in the red: Its shares fell 5.4% on Monday.

Deutsche's management, led by co-chief executives Anshu Jain and Jürgen Fitschen, is appealing for more time to reshape the bank, while expecting 2014 to be another tough year. Whether the Jain-Fritschen pairing has done enough to merit investors' patience is now in question.