Deutsche Bank says Q2 results "slightly above" consensus

Credit: REUTERS/KAI PFAFFENBACH

Deutsche Bank said on Tuesday that its results for the second quarter were slightly above a consensus of estimates compiled by the German lender.

CET1 ratio to be around 13.3% vs 12.8%

Bank has flagged strong quarter for investment bank

Detailed results published July 29

Updates with details, estimates

FRANKFURT, July 21 (Reuters) - Deutsche Bank DBKGn.DE said on Tuesday that its results for the second quarter were slightly above a consensus of estimates compiled by the German lender.

Deutsche's chief executive Christian Sewing recently said that the positive momentum of the first quarter continued in the following three months, particularly in the investment bank.

Analysts had expected that the bank, which has posted a string of annual losses over the past five years, generated 6 billion euros ($6.86 billion) in revenue in the second quarter, down slightly from 6.2 billion from a year earlier.

They also had foreseen the bank posting a net loss of 133 million euros attributable to shareholders and additional equity components, narrower than the 3.2 billion loss a year earlier that came on the back of a major restructuring.

The German lender said its Common Equity Tier 1 (CET1) ratio would be above market expectations at around 13.3% compared to 12.8% the previous quarter. A 12.4% ratio had been expected.

The bank will report detailed earnings on July 29.

($1 = 0.8744 euros)

(Reporting by Tom Sims, editing by Thomas Escritt)

((Tom.Sims@thomsonreuters.com; +49 69 7565 1242;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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