Deutsche Bank Reports Loss of €43 Million ($46,627,882 dollars) in Q1 2020

Finance Magnates ^ | 29 April 2020 | Celeste Skinner

[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.

[MeneMeneTekelUpharsin]

Too many banks posting massive losses. May Warren Buffet was right. And, again, thanks to Democrats and the media for helping drive this.

[wny]

bail-ins on the way......

[alexander_busek]

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,

[Rockingham]

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.

[Georgia Girl 2]

They have been on life support for about the past five years. Its just a matter of what moment in time they fold.

[Svartalfiar]

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?!

[Svartalfiar]

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?

[Varsity Flight]

Demonstrating the recession is currently not as bad as the GB II and Illegal’s recession.