Deutsche Bank, HSBC Flag Tariffs Impact as Provisions Climb

First-quarter results at Deutsche Bank AG and HSBC Holdings Plc offered an early glimpse of how two of Europe’s biggest lenders are responding to the trade war hitting markets.

The German lender added €70 million ($80 million) to its provisions in the first quarter specifically to reflect concerns over tariffs and the macroeconomic picture, Chief Financial Officer James Von Moltke said on an earnings call Tuesday. Credit provisions overall for the quarter rose to €471 million, ahead of estimates.