Deutsche Bank's profit streak at risk as Postbank lawsuit looms
Adds second graphic, background in paragraphs 9-13
By Tom Sims
FRANKFURT, July 15 (Reuters) -Deutsche Bank DBKGn.DE is expected to post a loss for the second quarter, according to a consensus forecast published on Monday, as a protracted investor lawsuit over its Postbank division threatens to erode earnings.
Any loss at Germany's largest lender would break a streak of 15 consecutive quarters in the black in a setback for the bank's turnaround under CEO Christian Sewing.
The bank has warned profit would take a hit in the quarter because it would book 1.3 billion euros ($1.42 billion) for the long-running lawsuit claiming it underpaid for its purchase of its giant Postbank division.
The bank, which has strongly disputed the claims, declined to comment on the analyst forecasts posted on its own website.
Deutsche publishes its earnings on July 24. The bank's actual results have exceeded analysts' expectations in recent quarters.
The new consensus forecast does show each of the bank's four key operating divisions posting profit before tax.
But the post-tax bottom-line loss attributable to shareholders could be around 280 million euros in the quarter, according to Reuters calculations based on the consensus.
That is wider than a 170 million loss foreseen in the bank's previous consensus forecast dated in May, and compares with a reported profit of 763 million euros in the second quarter of last year.
The bank's management launched an overhaul in 2019 to restore profit after years of hefty losses.
Many analysts and investors have praised the bank's leaders for improved earnings but have criticised the bank for a drumbeat of regulatory and reputational issues.
Postbank, the no-frills lender that Deutsche bought during the financial crisis, has become a source of consumer complaints and regulatory scrutiny.
But Deutsche has made progress on some outstanding problems.
On Friday, Deutsche confirmed that it had settled for an undisclosed sum a 500 million euro lawsuit with a Spanish hotel company that claimed losses on derivatives products.
The company, Palladium Hotel Group, did not reply to a request for comment.
($1 = 0.9171 euros)
Deutsche Bank results https://reut.rs/4dmH1te
Deutsche Bank shares https://reut.rs/3Lr2Z1H
Reporting by Tom Sims, Editing by Miranda Murray, Matthias Williams and David Evans
免責聲明: XM Group提供線上交易平台的登入和執行服務，允許個人查看和/或使用網站所提供的內容，但不進行任何更改或擴展其服務和訪問權限，並受以下條款與條例約束：（i）條款與條例；（ii）風險提示；（iii）完全免責聲明。網站內部所提供的所有資訊，僅限於一般資訊用途。請注意，我們所有的線上交易平台內容並不構成，也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料，僅適用於教育/資訊類用途，不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議，或是交易價格紀錄，或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容，包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接，皆爲‘按原狀’，並作爲一般市場評論所提供，而非投資建議。請理解和接受，所有被歸類為投資研究範圍的相關内容，並非爲了促進投資研究獨立性，而根據法律要求所編寫，而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊，相關詳情請點擊 這裡查看。
