Deutsche Bank Forecast: Quarterly Loss Threatens Profit Streak
Deutsche Bank faces potential loss in Q2, breaking 15-quarter profit streak. Legal dispute and analyst forecast raise concerns. Earnings reveal on July 24.
Deutsche Bank is facing the possibility of posting a loss for the second quarter, as indicated by a recent analyst consensus forecast released on the bank's website. This potential loss would mark a significant departure from the bank's previous 15 consecutive quarters of profitability, posing a challenge to its ongoing turnaround efforts. The bank has disclosed plans to allocate up to 1.3 billion euros for a legal dispute related to the acquisition of its Postbank division, a claim that it vehemently denies. While the bank has refrained from commenting on the forecast, it is set to unveil its earnings on July 24.
Despite the forecast indicating that each of the bank's key operating divisions is expected to report a profit before tax, the bottom-line loss attributable to shareholders could reach approximately 280 million euros for the quarter. This figure surpasses the 170 million euro loss projected in the previous consensus forecast from May and contrasts with the 763 million euro profit reported in the same period last year.
Deutsche Bank's potential second-quarter loss reflects the challenges it faces amidst ongoing legal disputes and market conditions. The bank's upcoming earnings announcement will provide further insights into its financial performance and strategic direction moving forward.
Deutsche Bank Forecast: Quarterly Loss Threatens Profit Streak
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