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Deutsche Bank Reports Loss of €43 Million ($46,627,882 dollars) in Q1 2020
Finance Magnates ^
| 29 April 2020
| Celeste Skinner
Posted on 04/29/2020 5:28:00 AM PDT by MeneMeneTekelUpharsin
Deutsche Bank has published its financial report for the first quarter of 2020, revealing that the German lender 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 COVID-19 related volatility. 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 disclosed on Sunday, as the bank sought to address media reports.
(Excerpt) Read more at financemagnates.com ...
TOPICS: Business/Economy; Foreign Affairs; Miscellaneous; News/Current Events
KEYWORDS: bank; deutsche; huge; loss
Too many banks posting massive losses. May Warren Buffet was right. And, again, thanks to Democrats and the media for helping drive this.
To: MeneMeneTekelUpharsin
bail-ins on the way......
2
posted on
04/29/2020 5:37:50 AM PDT
by
wny
To: MeneMeneTekelUpharsin
On the weekend, Deutsche Bank posted losses of 43 million - and then surged as the week began.
So investors took the news that losses were "only" 43 million as a "buy" signal.
Regards,
3
posted on
04/29/2020 5:58:36 AM PDT
by
alexander_busek
(Extraordinary claims require extraordinary evidence.)
To: alexander_busek
That looks like a dead cat bounce. Despite great cost-cutting and shedding of much bad debt, Deutsche Bank nevertheless remains impaired. Last week, S&P Global Ratings downgraded DB’s outlook to negative due to the anticipated effects of the coronavirus on its balance sheet.
To: MeneMeneTekelUpharsin
They have been on life support for about the past five years. Its just a matter of what moment in time they fold.
5
posted on
04/29/2020 7:32:08 AM PDT
by
Georgia Girl 2
(The only purpose of a pistol is to fight neiyour way back to the rifle you should never have dropped)
To: MeneMeneTekelUpharsin
So I'm a little confused here.
revealing that the German lender has posted a bottom-line loss of 43 million attributable to shareholders during the three month period.
...
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
So, the bank actually made a profit, but then European taxes took away 249MM, making that a net loss??? How do taxes put you into the negative? How is the 43MM loss "attributable to shareholders"? What does that mean, and how does it compare to just a regular $MM in losses?
And "bank levies" of 503MM, so fines for wrongdoing? Which means the bank actually made a net profit of 709MM before taxes and fines, so this story is really a nothingburger? Ignoring fines but allowing for taxes mean normally they'd have a net profit of 460MM? How are they in trouble if they generate half a billion dollars in profit?!
To: Svartalfiar; MeneMeneTekelUpharsin
How are they in trouble if they generate half a billion dollars in profit?!
Ah, that's over the first quarter only. So not much WuhanVirus effects, but if they generally manage 2B in profits for the year, how are they in that much trouble?
To: MeneMeneTekelUpharsin
Demonstrating the recession is currently not as bad as the GB II and Illegal’s recession.
8
posted on
04/29/2020 6:26:45 PM PDT
by
Varsity Flight
(QE 2020. All Quiet on the Western Front)
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