Deutsche Bank says Q2 results slightly above consensus

[FRANKFURT] Deutsche Bank said on Tuesday that its results for the second quarter were slightly above a consensus of estimates compiled by the German lender.

Deutsche's chief executive Christian Sewing recently said that the positive momentum of the first quarter continued in the following three months, particularly in the investment bank.

Analysts had expected that the bank, which has posted a string of annual losses over the past five years, generated 6 billion euros (S$9.52 billion) in revenue in the second quarter, down slightly from 6.2 billion euros from a year earlier.

They also had foreseen the bank posting a net loss of 133 million euros attributable to shareholders and additional equity components, narrower than the 3.2 billion-euro loss a year earlier that came on the back of a major restructuring.

The German lender said its Common Equity Tier 1 (CET1) ratio would be above market expectations at around 13.3 per cent compared to 12.8 per cent the previous quarter. A 12.4 per cent ratio had been expected.

The bank will report detailed earnings on July 29.

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REUTERS