Deutsche Bank to Report Profit, Won't Raise Capital

Discussion in 'Stocks' started by ASusilovic, Jul 2, 2008.

  1. Deutsche Bank AG, Germany's biggest bank, said it will report a profit in the second quarter and won't need additional capital, sending shares higher after four days of declines.

    The stock rose as much as 3.7 percent and was up 1.05 euros to 53.50 euros at 9:20 a.m. in Frankfurt after Deutsche Bank said today in a statement that its Tier 1 ratio, a measure of capital strength, will remain about 9 percent. ``Therefore, the bank does not expect its financial performance in the second quarter to result in a requirement for further capital,'' it said.

    Frankfurt-based Deutsche Bank, scheduled to report second- quarter earnings on July 31, reported its first quarterly loss in five years in April after writing down the value of loans for leveraged buyouts and asset-backed securities by 2.7 billion euros ($4.27 billion). The shares dropped 4.4 percent yesterday in Frankfurt, the most in a month, on speculation that the company may lower its earnings outlook.

    ``This is comforting news, especially the fact that the Tier 1 ratio remains at the top end of Deutsche Bank's target range,'' said Konrad Becker, an analyst at Merck Finck & Co. in Munich who recommends holding the shares. ``They had to do something as the shares were under heavy pressure lately.''

    Banks and securities firms have raised $322 billion in the past year after record writedowns and credit losses of $403 billion following the collapse of the U.S. subprime mortgage market.

    And the winner is :


    :D :D :D
  2. "Cristal and Eastern European whores for free, tonight 10pm at Deutsche Bank Tower, Level 69"
  3. Ha, ha, ha, ha, ha....:D :D :D :D