Deutsche Bank Q4 hit by restructuring charges

FRANKFURT Thu Dec 13, 2012 8:35pm IST

A visitor walks past the bank's logo prior to Deutsche Bank's annual news conference in Frankfurt February 2, 2012. REUTERS/Kai Pfaffenbach/Files

A visitor walks past the bank's logo prior to Deutsche Bank's annual news conference in Frankfurt February 2, 2012.

Credit: Reuters/Kai Pfaffenbach/Files

Related Topics

Stocks

   

FRANKFURT (Reuters) - Deutsche Bank (DBKGn.DE) said restructuring charges and revaluation of some assets would hit its fourth-quarter earnings.

The hit relates to efficiency measures at its main business and Postbank retail division as well as to de-risking and valuation adjustments to certain assets, Deutsche said on Thursday, without specifying.

Shares fell 2.9 percent to 33.28 euros by 1315 GMT, making them the biggest decliners on Germany's blue-chip DAX index .GDAXI.

Despite a difficult economic environment, Deutsche said it achieved solid operational results in October and November across all its core businesses.

The bank said it still expected to reach a Basel III core tier one ratio of 7.2 percent by 2013.

Ahead of the statement, analysts on average saw Deutsche posting a quarterly pretax profit of about 682 million euros, compared with a year-earlier loss, according to Thomson Reuters StarMine.

On Thursday, Deutsche Bank also formally created a non-core operations unit to house 125 billion euros worth of assets that eat up too much capital or make too little profit.

The move forms part of a new strategy the bank announced in September, when Deutsche said it would create an asset and wealth management unit.

(Reporting By Edward Taylor; Editing by Erica Billingham)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Popularity Poll

REUTERS SHOWCASE

Record Highs

Record Highs

Nifty touches record high; software stocks gain.  Full Article 

New Adviser

New Adviser

Arvind Subramanian likely to be chief econ adviser.  Full Article 

Pricing Mechanism

Pricing Mechanism

Govt sets up a four-member panel to re-examine gas pricing.  Full Article 

Royalty Rates

Royalty Rates

India to hike iron ore royalty, miners may struggle to pass on extra cost.  Full Article 

Diesel Deregulation

Diesel Deregulation

Oil ministry to seek Cabinet nod on diesel deregulation - sources  Full Article 

Commodities

Commodities

Gold near two-month low; set for weekly drop on interest rate fears  Full Article 

Reuters Exclusive

Reuters Exclusive

Apple iPhone 6 screen snag leaves supply chain scrambling   Full Article 

Helping Regional Mills

Helping Regional Mills

Govt raises sugar import duty to 25 pct from 15 pct.  Full Article 

Curbing Risks

Curbing Risks

RBI to lower ceiling on bank loans to a single corporate group.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage