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FINANCIALS: Deutsche Bank Miss On Higher Loan Losses, Postbank Litigation

FINANCIALS

Deutsche Bank (DB: Baa1/BBB/A-) headlines look disappointing, especially having seen spreads tighten well into these results. Group revenues were solid (but FICC missed), costs overran by 5% and loan losses were 12% weaker, driving that pre-tax miss. Postbank litigation provisions then consumed that to leave the net loss. Equity investors won’t like the missed buyback, we feel.

  • “*DEUTSCHE BANK 2Q CET1 RATIO 13.5%, EST. 13.4%
  • *DEUTSCHE BANK NOW SEES '24 PROVISIONS `SLIGHTLY' ABOVE 30BP
  • *DEUTSCHE BANK 2Q PRETAX PROFIT EU411M, EST. EU489.1M
  • *DEUTSCHE BANK 2Q NET REV. EU7.59B, EST. EU7.53B
  • *DEUTSCHE BANK REAFFIRMS 2025 FINANCIAL TARGETS
  • *DEUTSCHE BANK 2Q NET LOSS €143M VS PROFIT LAST YEAR
  • Deutsche Bank Won’t Seek Second Buyback This Year, CFO Says” – BBG

Conf call is 1000 (London time) at: https://services.choruscall.eu/links/deutschebank1.html 

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