Deutsche Bank Shares Fall After CEO Forecasts Unprofitable Year
- Cryan says bank may make `small profit' or `small loss'
- UBS CEO says `challenging conditions' continued into 2016
Deutsche Bank Co-CEO Cryan Forecasts Unprofitable Year
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Deutsche Bank AG shares dropped as much as 6.2 percent after co-Chief Executive Officer John Cryan said he doesn’t expect the German lender to report a profit this year.
“We’ve said this year is not going to be a profitable year, we may make a small profit, we may make a small loss, we don’t know,” Cryan said at a conference in London on Wednesday. “There’s a lot of stuff we have to get done this year, so this year we’re not going to be profitable.”