February 14, 2008
Deutsche Bank’s Upside Surprise
Despite the rumours yesterday that Deutsche Bank was going to report a massive loss, the bank came out this morning with a surprisingly good set of numbers.
A few headline numbers:
- Pre-tax profit up 5% – year over year -, it now stands at €8.7 billions
- Revenues have risen by 2%, and now stand at €30.8 billions
- Costs have also gone up 8%, at €21.4 billions
- Credit costs doubled, but only to €612 millions – which is still very low and reflects both the acquisition of Berliner Bank and deteriorating credit.
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