Deutsche Bank Reports Loss of €43 Million in Q1 2020

Deutsche Bank has published its financial report for the first quarter of 2020, revealing that has posted a bottom-line loss of €43 million attributable to shareholders during the three month period.
Although the German bank posted a loss of €43 million, it is worth noting that it is still better than analysts had initially expected, with the figure reflecting higher revenues on the back of increased trading, which has been driven by .

For the three month period, Deutsche Bank confirmed that it had achieved a Group profit before tax (PBT) of €206 million after bank levies of €503 million. This figure was , as the bank sought to address media reports.
Deutsche Bank investment bank unit provides hope
In terms of revenues, Deutsche posted net revenues of €6.35 billion for the first quarter, which is slightly lower year-on-year. Contributing to this was the investment banking unit, with revenues rising by 18 per cent year-on-year – the strongest division performance for the company.
According to the report, the uptick in investment bank revenues was driven by 13 per cent growth in Fixed Income & Currencies. In particular, a strong performance in foreign exchange (forex) and rates more than offset significantly lower revenues in credit.
Commenting on the performance, Christian Sewing, Chief Executive Officer, said in the company’s statement: “In the current crisis, we have shown robust numbers and demonstrated strong performance in support of our clients across all core businesses.
“Conservative balance sheet management enables us to navigate the current environment from a position of strength as the leading bank in Europe’s strongest economy. I want to say a huge thank you to our employees, who have shown outstanding dedication and flexibility. I am proud of the way we have been there for our clients, our communities and for each other.”
Although the investment bank unit of Deutsche Bank did provide some hope for the firm, it did warn of deteriorating performance for the division in the quarters to come. Therefore, full-year revenue will only be slightly higher than last year.