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Earnings Analysis: 
Deutsche Bank Posts a Loss of €141 million
Author: 123jump.com Staff
123jump.com
Last Update: 10:07 AM EDT May 01 2008

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Germany’s biggest bank Deutsche Bank recorded a loss for the first time in five years The bank reported a loss of €141 million (or $220 million) in the latest quarter, compared to a profit of €2.1 billion a year ago. Pretax earnings declined to a loss of €254 million versus a €3.2 billion profit in 2007. The management explained that Deutsche Bank had been forced to write down €2.7 billion in the value of assets.

 
Revenues from Other Products fell 12% from a year earlier to €13 million.

Provision for credit losses advanced 7% from a year ago to €125 million on organic growth in consumer finance.

As a result, income before income taxes in PBC gained 4% from the comparable period a year ago to €304 million.

In the first quarter, PBC gained 182,000 net new clients and the total number of clients edged up to 14 million, driven by increases in Germany and India.

Corporate Investments Group Division (CI)

CI''s income before income taxes increased to €679 million in the first quarter 2008 from € 305 million in the same period a year ago.
Gains of €854 million were realized from the sale of industrial holdings, including Daimler AG, Allianz SE and Linde AG.
Markdowns, including the impact from Deutsche Bank''s option to increase its share in Hua Xia Bank Co. Ltd., negatively impacted the current quarter.
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