Finance
Deutsche Bank Real Estate Woes Spoil Party for European Lenders
- Lender says it was too optimistic about commercial real estate
- Santander, UniCredit lift revenue goal after beating estimates
This article is for subscribers only.
Deutsche Bank AG’s move to put aside more money for souring loans to companies and the commercial real estate sector cast a shadow over an otherwise solid quarter for several of Europe’s largest lenders.
Germany’s largest bank also shelved plans for a second buyback this year as a previously disclosed litigation charge pushed it to the first quarterly loss since 2020. The shares slumped as much as 8.5% Wednesday, the steepest drop in almost three months.