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Deutsche Bank Pretax Profit Misses Consensus

Reuters
Tuesday, 24 Jul 2012 | 11:40 AM ET

Deutsche Bank said second quarter pretax income would amount to about 1 billion euros ($1.21 billion), below market expectations, hit by a weaker euro.


Deutsche Bank was seen posting a pretax profit of 1.4 billion euros and net income of 1 billion euros, according to ThomsonReuters Starmine.

Earlier this month it emerged that Deutsche Bank may cut almost a tenth of its investment banking staff due to weak trading activity.

Deutsche Bank further said lower full year net income projections would be mitigated by additional de-risking measures this year, without providing details.

Earlier this year, Germany's flagship lender had signaled to analysts it may post a net profit after dividend of around 3 billion euros for 2012.

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