Deutsche Bank’s Dealmakers Suffer Worst Quarter Since Lehman
- Investment banking revenue slumps to lowest since 2008
- Losses on leveraged loans and an equity position erase revenue
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Deutsche Bank AG’s dealmakers suffered their worst quarter since the financial crisis as revenue from advising on stock and debt issuance evaporated.
Investment bankers who usually bring in around €500 million ($500 million) on average in quarterly revenue, earned just €95 million from advising on mergers and capital raising this time around. Income from debt issuance slumped to €6 million in the third quarter, while the equity business even recorded a negative €2 million.