Deutsche Bank reported a net loss attributable to shareholders of 77 on Wednesday million ($ 90.3 million) for the second quarter.
This represents a significant improvement in the bank’s loss of EUR 3.2 billion over the same period last year due to mass restructuring and is ahead of its own consensus estimates of a net loss of EUR 133 million. Analysts polled by Reuters predicted a net loss of 182.9 million euros.
The German creditor allocated provisions for credit losses of EUR 761million, stating that it had significantly increased its provisions for investment banks to reflect the expected impact of the coronavirus pandemic. This figure reaffirmed the bank’s full-year lending guidelines of 35-45 basis points.
Here are some more highlights for the quarter:
- The group’s net profit reached 6.3 billion euros, compared to 6.2 billion euros a year ago.
- Tier 1 equity ratio of 13.3% compared to 13.4% a year ago.