Crisis cuts Deutsche Bank profits in half

AFP, The West Australian July 31, 2012, 2:05 pm
Crisis cuts Deutsche Bank profits in half

Crisis cuts Deutsche Bank profits in half

Deutsche Bank, Germany's biggest lender, says its bottom-line profit was slashed nearly in half by the eurozone debt crisis in the second quarter.

Deutsche Bank said in a statement today its net profit amounted to 661 million euros ($A780 million) in the period from April to June, compared with 1.2 billion euros during the same period last year.

"In the second quarter, the bank's performance was impacted by a volatile environment. The European sovereign debt crisis continues to weigh on investor confidence and client activity across the bank," said co-chief executives Juergen Fitschen and Anshu Jain.


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