Published on April 27, 2020 8:12 AM |
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FRANKFURT (AFN / BLOOMBERG) – Deutsche Bank made a profit in the first quarter against expectations. The German lender announced this in surprising preliminary figures. The financial group will publish final quarterly figures later in the week, but decided to release the preliminary results earlier in order to suppress uncertainties in the market.
Deutsche Bank expects to have generated EUR 206 million in income and a profit of EUR 66 million. Analysts had just expected a loss. The bank also announced that it would set aside money to absorb more unpaid loans. It is expected to be around 500 million euros.
The bank also announced that it may fall “temporarily and to a limited extent” below its target of the CET1 ratio of 12.5 percent. That measure of the bank’s capital position was 12.8 percent at the end of the quarter, compared with 13.6 percent at the end of last year. The European Central Bank (ECB) prescribes a CET1 ratio of at least 10.4 percent.
Specific numbers
Deutsche Bank has not yet released specific figures for the various components. The unexpected gains may indicate that the bank was able to take advantage of more trading activity from its investing clients in recent months as the stock markets moved wildly due to the corona crisis.
Many Deutsche Bank customers are affected by this crisis and now need support, the bank writes. “Our goal is to give them that support with our strong balance sheet.”
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Business insider came up with other “results”
For 10 years now they can hold the ground, in itself a German world record, the successor of Frau Merkel will have to do it, perhaps another two years a quarterly profit of 100 million euros as a deposit.
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They have once again opened the old bookcase.
and turned the world upside down with a wet finger story.
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Will options for employees expire tomorrow?
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