Deutsche Bank: reports loss on reorganisation
(CercleFinance.com) - Deutsche Bank has racked up a loss of 832 million euros in the third quarter, the German bank said in a statement on Wednesday, which has sent its shares down.
The group - which is undergoing its biggest reorganisation in two decades - said that net revenues were 5.3 billion euros in the quarter, down 15%, due to its recent strategic decision to withdraw from equity sales and trading.
In the third quarter, DB reduced risk-weighted assets by about 9 billion euros to 56 billion euros, well on track to reach its year-end target.
Its Common Equity Tier 1 ratio — an important measure of a bank's financial health — was 13.4% at the end of the quarter, stable versus the end of the second quarter.
On the bright side, the "core bank," which represents its new scope and includes every division, apart from its "bad bank", reported a pre-tax profit of 353 million euros, with all four core businesses profitable in the quarter.
Yet, Deutsche Bank shares were being bashed in the market today, trading down 6% at 6.8 euros, and largely underperforming the 0.4% slip in the German blue-chip DAX index.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The group - which is undergoing its biggest reorganisation in two decades - said that net revenues were 5.3 billion euros in the quarter, down 15%, due to its recent strategic decision to withdraw from equity sales and trading.
In the third quarter, DB reduced risk-weighted assets by about 9 billion euros to 56 billion euros, well on track to reach its year-end target.
Its Common Equity Tier 1 ratio — an important measure of a bank's financial health — was 13.4% at the end of the quarter, stable versus the end of the second quarter.
On the bright side, the "core bank," which represents its new scope and includes every division, apart from its "bad bank", reported a pre-tax profit of 353 million euros, with all four core businesses profitable in the quarter.
Yet, Deutsche Bank shares were being bashed in the market today, trading down 6% at 6.8 euros, and largely underperforming the 0.4% slip in the German blue-chip DAX index.
Copyright (c) 2019 CercleFinance.com. All rights reserved.