[ad_1]
Despite the corona virus crisis, Deutsche Bank posted first quarter earnings, exceeding analyst expectations. Before tax, the group posted a profit of 206 million euros, Germany’s largest money house announced last night. After taxes, it was 66 million euros.
By contrast, analysts expected an average pre-tax loss of nearly € 269 million. The bank’s capital buffer fell from 13.6 percent to 12.8 percent in late March, in part due to the burdens of the coronavirus crisis.
“We are determined to use our balance sheet to support clients who now need us especially,” said CEO Christian Sewing. “With this decision, our Tier 1 base index could be temporarily below our target of at least 12.5 percent without weakening our bank’s strong balance sheet.”
