Deutsche Bank on Wednesday reported a net loss attributable to shareholders of 77 million euros ($90.3 million) for the second quarter.
million euros for the second quarter.
This marks a stark improvement from the bank's 3.2 billion euro loss for the same period last year in the throes of a mass restructure, and outstrips its own consensus estimates of a 133 million euro net loss. Analysts polled by Reuters had projected a net loss of 182.9 million euros. The German lender allocated credit loss provisions of 761 million euros and said it had increased its investment bank provisions significantly to reflect the expected impact of the coronavirus pandemic. This figure re-affirmed the bank's full year guidance of 35-45 basis points of loans.Group net revenues hit 6.3 billion euros, versus 6.2 billion euros a year ago.This is a breaking news story. Please check back for more details.
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