Deutsche Bank Earnings Fall 34%, Worse Than Expected

Deutsche Bank Earnings Fall 34%, Worse Than Expected

FRANKFURT–Deutsche Bank, the largest German bank, said on Thursday that profit had fallen 34 percent in the first quarter, more than expected, as the European debt crisis continued to depress fees from trading and other investment banking activities.

Net profit fell to 1.4 billion euros ($1.85 billion) in the first three months of the year compared with net profit of 2.1 billion euros in the period a year earlier, the bank said.

The decline in earnings, which also reflected an expense of 210 million euros related to lawsuits against the bank, comes shortly before a change in top management. Josef Ackermann, chief executive for a decade, is retiring at the end of May. Anshu Jain, head of the investment bank, and Jürgen Fitschen, another member of the management board, will share chief executive duties.

Rest here…

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Comments
10 Responses to “Deutsche Bank Earnings Fall 34%, Worse Than Expected”
  1. Faith says:

    Please watch the Frontline program on PBS about what happened on Wall Street during the crisis. It is excellent. Many private interviews-much info.
    Deutsche bank was still buying all the crap MBS when everyone on the Street knew it was crap and the market was crashing.

  2. joi says:

    @ readdocs

    Well GOD is above all and base on his word it’s now for the wicked to be cast down and out forever. Plus also I doubt if they’re going to be bailed out because the US have two federal lawsuits against them already.

  3. readdocs says:

    Don’t get too happy so fast…a treaty has been slipped under everybody’s nose that
    now means the european banks can be permanently rescued with american tax
    payer dollars.

  4. Barbra Orr says:

    THIS BANK BEING PART OF THE HOLOCAUST WHAT ARE THEY DOING IN AMERICA. LEAVE IT I AM GLAD PROFITS ARE DOWN BUT THIS IS NOT THE END THEY ARE GOING DOWN ALL THE WAY TO THE FIRE. OF HELL.

  5. gregory says:

    Their loosing their asses in europe so they are comming here to steal where it not such a crime……

  6. joi says:

    Thank you GOD in the name of JESUS. See what happens when the devil gives, he gives then he takeths away. Deutsche Bank is the shepherd for the devil and will fail, falter and fall. Everyone keeps the faith and prayers going. Prayer changes things…AMEN

    @leapfrog – I love your comment. And yes they do need the que for the laughing mouse and the kaboom.

  7. leapfrog says:

    Please cue the laughing mouse. This is GREAT news! Hahaha. Douchebank gets hosed.

  8. David Robert says:

    It is important to remember that this DEUTSCHE Bank not only financed Auschwitz and other death camps it was the main financer of the holocaust.

    • To Tell The Truth says:

      That’s what I have said so many times…and I learned in reading the Torah/Pentateuch/Tenach/Bible that God id long-suffering…He waits, and watches and then He decides when it is time…I am the Lord, The Lord your God, who shows mercy to whom I will show mercy but I will in no way clear the guilty!!!

      I have an article I want to submit when Ackerman in the midst of the 2008 crisis boasts of the huge profit Deutsche made…

      • joi says:

        @ To Tell The Truth. I bet he’s not boosting now, is he. He’s jumping ship before the rath of GOD swopes them all up in handcuffs.

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