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

   
Coal Mining In The Punjab

Coal Mining In The Punjab

In Choa Saidan Shah miners dig coal with crude pick axes and load it onto donkeys to be transported to the surface earning a team of 4 workers around $10 to be split between them.  Slideshow 

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

REUTERS SHOWCASE

WTO Row

WTO Row

Kerry presses India on global trade deal as deadline looms  Full Article 

Fed Policy

Fed Policy

Fed presses forward with bond buying, cites uptick in inflation.  Full Article 

Q2 Profit Slips

Q2 Profit Slips

Samsung sees tough second half  Full Article 

Chinese Economy

Chinese Economy

China should set lower 2015 GDP growth target of 6.5-7 percent - IMF  Full Article 

Default Imminent

Default Imminent

Argentina fails to reach debt agreement   Full Article 

Economy Reboots

Economy Reboots

U.S. economy back on track with strong second-quarter rebound  Full Article 

Reuters India Mobile

Reuters India Mobile

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