Tags: Deutsche | Bank | Profit | Costs

Deutsche Bank Sees ‘Significant’ Impact on Profit From Costs

Thursday, 13 Dec 2012 09:23 AM

 

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Deutsche Bank AG, Europe’s largest bank by assets, said fourth-quarter profit will be impacted “significantly” as it reduces riskier assets and faces higher restructuring costs.

The costs include valuation adjustments and charges related to global transaction banking in the Netherlands, the Frankfurt- based lender said in a statement to the stock exchange.

“We currently expect these specific items to have a significant negative impact on the bank’s earnings in the fourth quarter,” Deutsche Bank said. “The fourth quarter so far was characterized by a continued difficult macroeconomic environment with low volatility.”

Deutsche Bank dropped as much as 3.2 percent on the Stoxx 600 Banks index. It declined 2.8 percent to 33.31 euros at 2:38 p.m., paring gains this year to 13 percent.

The bank is also assessing impairments and provision levels for the full year, it said. The company reaffirmed 2013 goals for raising capital levels when stricter Basel III rules are scheduled to be implemented.


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