Deutsche Bank posts loss of €1.5B in Q4

Thursday, 30. January 2020 07:02

Deutsche Bank posed a loss of €1.5 billion in the last three months of 2019. In the same quarter in 2018, the bank recorded a net loss of €409 million. The company stated its net revenues were at €5.3 billion, falling 4% year-on-year. Non-interest expenses increased by 13% from the same quarter a year ago to €6.4 billion while the common equity tier 1 ratio stayed 13.6%. Deutsche Bank also stated it cut its full-time workforce by 4,140 to 87,597 in the last quarter of 2019.

In the full-year 2019, Deutsche Bank saw its total net revenues fall by 8% to €23.2 billion as the bank posted a loss of €5.3 billion after earning €341 million in the previous year.

CEO Christian Sewing stated: "“Our new strategy is gaining traction. Stabilizing revenues in the second half of 2019 and our consistent cost discipline both contributed to better operating performance than in 2018. Our client business is developing well, right across the bank. With our strong capital position and a Common Equity Tier 1 capital ratio of 13.6%, we’re very confident we can finance our transformation with our own resources and return to growth."

Related Links: Deutsche Bank AG
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Breaking the News / VP