Deutsche Bank became the latest firm to warn that it will miss capital targets due to provisions and an expanded balance sheet, in a pre-announcement of its first-quarter earnings on Sunday April 26.
The big surprise in the release was that Deutsche will actually turn a profit for the first quarter. Revenue will be a higher than expected €6.4 billion and pre-tax profit €206 million – when many analysts had expected a loss of at least that amount.
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Christian Sewing leads a management team at Deutsche Bank with more credibility than recent incumbents |
Deutsche said that its capital may fall “modestly and temporarily” below its common equity ratio target of at least 12.5%,
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