Of Special Interest
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- Newslink Trends-The Global Strategic Perspective
- Juniper Research says digital wallet users to exceed 4.4 billion by 2025, as mobile drives digital payments’ revolution
- Criminals exploit COVID-19 pandemic with rise in scams targeting victims online
- Equifax says Open Banking proving pivotal to pandemic lending
- Consumer confidence in banks, credit card providers and investments remain stable as demand supercharges digital finance says Toluna research
- Mintos says Europeans are starting to embrace investing
- US banks see IT modernisation as a way to improve customer experience
- Risk mitigation in global trade depends on digitisation-Andrew Raymond, CEO, Bolero International comments
- Juniper Research new study says the volume of B2B payments facilitated by non-banks will exceed 53 billion in 2022, from a COVID-related low of 38 billion in 2020
- CMA issues fifth publication over 3 years of the service quality league table of personal and business current account providers
- Barclays says scammers take advantage of COVID-19, cashing in on nations’ uncertainty
- S&P Global report says financial market infrastructure sector's earnings likely to cool off In second half
- Global banking market capitalisation slumps by over 30% amid pandemic says Buyshares research
- Digital wallet spend in Europe & North America to increase by 40% in 2019, finds study
- Juniper forecasts mobile money transactions will exceed 200 billion by 2024
- Banks can save the world from climate change, says former UN climate chief
- Research by NatWest reveals gender divide over attitudes to saving
- Europe’s big bank problem: too much capital is trapped in the US, says Scope
- Later-Life lending market set to almost double in the next 10 years, finds report
- Barclays/Cebr report challenges nation to think differently about wealth
- Fifth of UK investors looking to debt investment, new research reveals
- Regtech will play a more important role in PSD2, says Mitek
- Banks turn to Fintech partnerships to improve customer experience, finds Fraedom
- New industry code to tackle fraud must deliver, says Which?
- New TTF report highlights loss of trust in financial services
- Arxan highlights financial app vulnerability epidemic
- SAS asks whether banks really need to choose between operations and innovation
- Which? raises alarm as almost 1,700 free ATMs become fee-charging
- Financial wellness affects half of peoples’ mental or physical health, finds report
- Study finds traditional financial institutions embrace Fintech disruption
- Grass is greener for environmentally friendly businesses, finds Barclays
- Prospective homeowners would consider a 40-year mortgage to escape renting, finds Santander
- Millennials’ needs are changing the face of banking industry, says new report
- FS is putting consumer data at risk by failing to protect mobile apps, says Arxan
- A lack of belief in their ability holds 28% women back in work, says Cambridge & Counties
- ‘Which?’ reveals Scotland has lost over a third of its bank branches in eight years
- Next downturn unlikely to be as bad as 2008, according to S&P
- FCA reveals findings from first cryptoassets consumer research
- US consumers favour single mobile app for banking and payments
- Banks suffering major IT shutdowns every day, ‘Which?’ reveals
- The US will be a key offshore centre in 2019, says GlobalData
- Debit industry changes markedly in 10 years of the Debit Issuer Study
- UK's ‘Big Five’ face ‘too big to compete’ as small challengers secure stellar returns
- Banks as vulnerable now as before crash, says new study
- Leverage ratio a constant conundrum for European and US banks, says SNL
27th April 2012
Deutsche Bank profit falls one third
Deutsche Bank reported Q1 net attributable of €1,381m (£1,132m $1,824m ¥148.2bn Y11,499m) DOWN 33%. The main reason for the fall was the drop of €1.3bn in non-interest income. There was a €257m loss booked on the sale of Actavis which contributed to this fall. The bank became the second major European bank to note that Q2 had not started well either.
The bank has announced the sale of parts of its wealth management business to Guggenheim Partners. In the result teleconference it was announced they were seeking to sell other parts of the business. In common with many other European banks they are seeking to boost capital ratios through the reduction of risk weighted assets.
The profit was below expectation and the stock was trading down almost 4% in late afternoon trading Thursday, the day of the announcement.
Q1 income summary 2012 2011 Change
€m €m %
Interest and similar income 8,375 8,369 0.1%
Interest expense 4,182 4,202 -0.5%
___________________________
Net interest income 4,193 4,167 0.6%
Provision for credit losses 314 373 -15.8%
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Net interest income after credit provisions 3,879 3,794 2.2%
Commissions and fee income 2,849 3,081 -7.5%
Fair value gains (losses) on financial assets 2,399 2,653 -9.6%
Net gains on financial assets for sale -46 415 --
Net income from equity method investments -149 -32 >
Other income -53 190 --
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Total noninterest income 5,000 6,307 -20.7%
Compensation and benefits 3,656 4,278 -14.5%
General and administrative expenses 3,184 2,737 16.3%
Policyholder benefits and claims 150 65 >
Impairment of intangible assets 10 – --
Restructuring activities – – --
___________________________
Total noninterest expenses 7,000 7,080 -1.1%
Income (loss) before income taxes 1,879 3,021 -37.8%
Income tax expense (benefit) 478 891 -46.4%
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Net income 1,401 2,130 -34.2%
Attributable to noncontrolling interests 20 68 -70.6%
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Attributable to Deutsche Bank shareholders 1,381 2,062 -33.0%