Deutsche Bank Q4 hit by restructuring charges
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)
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