Deutsche Bank Flags Commercial Property as Risk After Hit

Deutsche Bank AG suffered a dent in its exposure to commercial real estate and highlighted that the asset continues to be a problem for it.

First-quarter credit provisions in the investment bank surged 77% year over year to €290 million ($339 million), “driven by a single-name event” linked to commercial property, Germany’s biggest lender said Wednesday. This reflected a “revaluation” of existing exposure, Chief Financial Officer Raja Akram added on a call with journalists.