Deutsche Bank set for a third quarter loss

first_img Deutsche Bank yesterday said sales and trading activity during July and August was weaker than a year ago, providing a warning shot that third-quarter investment banking earnings could be weak across the board.In a trading update provided as part of the prospectus for Deutsche Bank’s planned €10.2bn (£8.6bn) capital increase, Germany’s flagship lender said it expects to post a loss during the third quarter thanks to a one-off charge and weaker trading. The main reason for the loss is a €2.3bn revaluation charge for the bank’s stake in Deutsche Postbank, but news of weak trading over the summer months sent jitters across the sector.Deutsche Bank shares closed down 4.5 per cent, helping send the Stoxx Europe 600 banking index down 0.8 per cent lower as Deutsche Bank’s rivals UBS, Credit Suisse and HSBC closed down one per cent or more.Deutsche Bank said sales and trading revenues at its corporate banking and securities (CB&S) businesses suffered seasonal reductions in July and August that were “more marked than in the comparable third quarter of 2009”.In the third quarter of 2009 Deutsche Bank had posted a pre-tax profit of €1.4bn. Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapp Deutsche Bank set for a third quarter loss Tuesday 21 September 2010 8:31 pm KCS-content center_img Tags: NULL whatsapp Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com Sharelast_img

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