Deutsche Bank lost 832 million Euro

Third quarter comes with 832 million losses for Deutsche Bank

On Wednesday the famous Deutsche Bank announced that for the third quarter the bank had a significant loss because it missed market expectations while the important restructuring project continues to press on the German lender. The bank published a net damage of 832 million euros for the third quarter of the year. According to efinitiv, experts were anticipating a decline of 778 million euros, it had announced a net gain of 229 million euros in the third quarter last year, but a loss of 3.15 billion euros in the second quarter of 2019. The chief executive officer of Deutsche Bank, Christian Sewing in a statement said the following, “Despite having launched the most comprehensive restructuring of our bank in two decades, we delivered profits in our four core businesses during the quarter and grew loans and assets under management,” and continued “Transformation is fully underway with tangible progress on costs and de-risking. A 13.4% CET1 ratio underlines our strength.”