Deutsche Bank Calms Jittery Markets
Deutsche Bank (DB) helped ease fears that the subprime loan crisis could spread to Europe when it reported second-quarter earnings Aug. 1 that beat expectations. The Frankfurt-based bank said net profit rose 31%, to $2.5 billion, on sales of $12 billion. The bank's Sales & Trading unit was the star performer, with sales rising 89% from a year earlier, to $1.9 billion. "The numbers were excellent, there's very little to criticize," says Andreas Weese, an analyst at Unicredit Markets & Investment Banking in Munich.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.