Deutsche Bank reveals Q3 loss

| October 27, 2010
Deutsche Bank reveals Q3 loss

Germanya��s largest lender, Deutsche Bank, today announced a loss for the third quarter, owing to its take over of retail bank, Postbank.

The bank reported a net loss of a��1.2 billion (A?1.05 billion), compared with a a��1.39 billion profit in the same period last year.

However, the figures still beat forecast of a a��1.48 billion loss for the current-year period.

Excluding Postbank, net profit for the three-month period was a��1.1 billion.

Deutsche recently launched a a��10 billion (A?8.1 billion) rights issue to take over Postbank.

The cash call was Germanya��s largest but is still well below the A?13.5 billion recently raised by Lloyds Banking Group and the A?12.5 billion and A?12 billion, raised by HSBC and Royal Bank of Scotland, respectively.

Meanwhile, commenting on todaya��s results, chairman Josef Ackerman said: “The third quarter results again prove the robustness of our recalibrated business model despite the difficult ongoing macro-economic and market conditions.”

Finally, it said it had a Tier 1 capital ratio of 11.5% and a core Tier 1 ratio of 7.6% – both comfortably within new Basel III regulations – designed to prevent another financial crisis.

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