A statue is pictured next to the logo of Germany's Deutsche Bank in Frankfurt September 30, 2016. — Reuters pic
Deutsche Bank had earlier said it was expecting a €66-million profit for the first three months, before a large bond coupon payment pushed the lender into the red. The bank said it has set aside €506 million provisions to deal with credit losses, around half of which it predicts will be “due to Covid-19”.
In partially released earnings results last Sunday, Deutsche Bank said it had made the decision to allow capital “to fall modestly and temporarily below its target” to support clients through the turmoil.
Source: News Formal (newsformal.com)
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