Deutsche Bank Reports Second Consecutive Quarterly Loss -- Earnings Review

Date : 10/30/2019 @ 11:16AM
Source : Dow Jones News
Stock : Deutsche Bank Aktiengesellschaft (DB)
Quote : 6.54  -0.1 (-1.51%) @ 1:00AM
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Deutsche Bank Reports Second Consecutive Quarterly Loss -- Earnings Review

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By Pietro Lombardi


Deutsche Bank AG (DBK.XE) released its third-quarter results on Wednesday. Here's what you need to know:


PROFIT: The German lender had an after-tax loss of 832 million euros ($923.4 million) for the period, which compares with a profit of EUR229 million a year earlier. Analysts had expected a loss of roughly EUR772 million, according to a consensus forecast provided by FactSet. Net loss attributable to shareholder was EUR942 million.


REVENUE: Revenue fell 15% to EUR5.26 billion, with almost all of the bank's four core divisions--excluding the corporate bank--reporting lower revenue. The results miss analysts' expectations of EUR5.53 billion, according to a consensus forecast provided by FactSet.




-INVESTMENT BANK: The investment banking division reported a 5% decline in revenue, with fixed-income revenue down 13%.


-COSTS: Adjusted costs excluding transformation charges fell 4% on year to EUR5.2 billion. The bank confirmed its cost target for the year.


-RESTRUCTURING: The bank is undergoing "the most comprehensive restructuring" in two decades, Chief Executive Christian Sewing said in a statement. The bank's four core business divisions were profitable, he said.


Write to Pietro Lombardi at


(END) Dow Jones Newswires

October 30, 2019 07:01 ET (11:01 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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