July 21, 2020 / 12:20 PM / 23 days ago

Deutsche Bank says second-quarter results 'slightly above' consensus

FILE PHOTO: The logo of Deutsche bank is seen in Hong Kong, China July 8, 2019. REUTERS/Tyrone Siu/File Photo

FRANKFURT (Reuters) - Deutsche Bank said on Tuesday that its results for the second quarter were slightly above a consensus of estimates compiled by the German lender.

Deutsche’s chief executive Christian Sewing recently said that the positive momentum of the first quarter continued in the following three months, particularly in the investment bank.

Analysts had expected that the bank, which has posted a string of annual losses over the past five years, generated 6 billion euros ($6.86 billion) in revenue in the second quarter, down slightly from 6.2 billion from a year earlier.

They also had foreseen the bank posting a net loss of 133 million euros attributable to shareholders and additional equity components, narrower than the 3.2 billion loss a year earlier that came on the back of a major restructuring.

The German lender said its Common Equity Tier 1 (CET1) ratio would be above market expectations at around 13.3% compared to 12.8% the previous quarter. A 12.4% ratio had been expected.

The bank will report detailed earnings on July 29.

Reporting by Tom Sims, editing by Thomas Escritt

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below