The investment-banking unit saw a “challenging market environment with low customer volumes and low volatilities in many key areas” during April and May, Frankfurt-based Deutsche Bank said in a statement on its website today.
The division’s first-quarter revenue slid 10 percent from a year earlier to 4.08 billion euros ($5.5 billion), the company said on April 29.
Revenue from fixed income has “largely declined” on an annual basis, the bank said. Equities revenue, which increased in the first quarter, is “now trending downward,” it said.
The company may face “material” costs resulting from regulatory probes of the foreign-exchange market, it said without specifying a timeframe.
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