As the bank already communicated in a performance update on 4 September 2007, market conditions during the quarter impacted mark-to-market valuations in the leveraged loan and trading books. Deutsche Bank anticipates taking charges in the third quarter on leveraged loans and loan commitments (net of related fees) of up to EUR 700 million, in addition to charges taken on such loans and commitments during the second quarter, and of approximately EUR 1.5 billion on structured credit products, residential mortgage-backed securities and relative value trading in both credit and equities. Other businesses in Corporate Banking & Securities produced strong results for the quarter. However, due to the aforementioned charges, Corporate Banking & Securities as a whole is likely to report a net pre-tax loss in the quarter, currently estimated in the range of EUR 250 - 350 million.
Ackermann commented: "Despite a challenging quarter for our investment banking franchise, our 'stable' businesses continue to perform well. We see substantial opportunities in investment banking after this period of correction. Therefore, we stay the course and remain committed to our publicly-stated financial targets for 2008, including pre-tax profits of EUR 8.4 billion, assuming normally functioning markets. We also re-affirm our commitment to a tier 1 capital ratio of between 8% and 9%."
Company Web site: http://www.db.com/
- Ανακεφαλαίωση : UBS, CITIGROUP, DEUTSCHE BANK και συνεχίζουμε.
