Tag: $Deutsche Bank

Germany’s largest lender Deutsche Bank on Thursday reported weaker-than-expected profit that fell sharply in the last three months of 2024, as legal provisions weighed on the bottom line.

Deutsche Bank reported a record third-quarter profit, as its trading and investment bank advisory revenue surged, but warned investors to brace for higher-than-expected loan losses for the second time in almost three months.

In a Wednesday statement, Deutsche Bank said it had reached agreements with more than 80 plaintiffs for a settlement of 31 euros ($34.53) per share, as proposed by the bank. This will allow Germany’s largest lender to release the funds and boost Deutsche Bank’s anticipated third-quarter pretax profit by 430 million euros, it said.

Deutsche Bank on Wednesday snapped a 15-quarter profit streak with a narrower-than-expected loss, as it made a provision for an ongoing lawsuit over its Postbank division and confirmed it would not make a second share buyback this year.

Deutsche Bank on Thursday reported 1.275 billion euros ($1.365 billion) in net profit attributable to shareholders in the first quarter, marking a 10% annual increase.

Deutsche Bank smashed fourth-quarter earnings expectations, reporting net profit of 1.3 billion euros ($1.4 billion).

The two German lenders abandoned a merger plan in 2019, but concerns about bank profitability, and reports that the German government’s is considering selling some of its company stakes, have rekindled whispers about a possible tie-up in recent weeks.

 Five years after Deutsche Bank and Commerzbank aborted an attempt to merge, an uncertain outlook for bank profitability and Germany’s need to plug a hole in its budget have rekindled speculation about a potential deal.

Deutsche Bank on Wednesday reported a third-quarter net profit of 1.031 billion euros ($1.06 billion), slightly beating expectations despite an 8% fall on the previous year and ongoing struggles in the lender’s investment unit.

Deutsche Bank
on Wednesday reported a net profit of 763 million euros ($842 million) for the second quarter of 2023, narrowly beating expectations despite a 27% year-on-year decline.

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