Deutsche Bank net profit plummets but still beats consensus
Apr. 28, 2016 3:58 AM ETDeutsche Bank Aktiengesellschaft (DB)DBBy: Yigal Grayeff, SA News Editor4 Comments
- Deutsche Bank (NYSE:DB) Q1 net profit dropped 58% to €236M ($267M) but beat forecasts for a loss,while revenue fell 22% to €8.1B.
- Factors affecting the bank's earnings include difficult market conditions, the decision to exit certain businesses as part of a restructuring and lower legal costs.
- Investment-banking revenues plunged 23%, while its wealth-management performance was were weak.
- Shares are +3.1% in Frankfurt. (PR)