Surprise results: The logo of German company Deutsche Bank is pictured at the company’s headquarters in Frankfurt am Main, western Germany. The bank’s revenue amounted to about €6.4bil euros (US$6.9bil) in Q1, exceeding estimates, while net income of €66mil defied analyst predictions for a loss. — AFP
FRANKFURT: Deutsche Bank AG joined other investment banks in beating first quarter earnings expectations while putting a question mark over its outlook.
Revenue amounted to about €6.4bil (US$6.9bil), exceeding estimates, and net income of €66mil defied analyst predictions for a loss. At the same time, provisions for soured credit hit the highest level in more than six years and the bank scrapped its minimum target for capital buffers.
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