Deutsche Bank on Wednesday reported a net loss attributed to shareholders of 77 million euros ($ 90.3 million) for the second quarter.
This has significantly improved the bank’s losses by € 3.2 billion over the same period last year due to massive restructuring and outpaces its own consensus estimates of net losses of € 133 million. Analysts polled by Reuters predicted a net loss of 182.9 million euros.
The German lender has set aside reserves for credit losses of 761million euros and said it has significantly increased reserves in investment banks to reflect the expected impact of the coronavirus pandemic. This figure was once again confirmed by the bank’s management for 35-45 basic points of loans.
Here are some highlights for the quarter:
- The group’s net income reached 6.3 billion euros against 6.2 billion euros a year ago.
- The ratio of total capital of the first level is 13.3% against 13.4% a year ago.
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