Deutsche Bank’s Earning Plummet By 98%, But Still Beat Analyst Estimates
Deutsche Bank’s profits plummeted by 98% in Q2 compared to the year-ago quarter, hit by low interest rates, slow trading and investment-banking operations.
The German bank—one of the world’s largest financial lending institutions—reported net income fell to $22M in Q2, compared to its $818M profit a year ago. The bank still beat analyst estimates, which have been lowered following the June 23 Brexit vote. Wall Street analysts anticipated anywhere between a $1B loss and a €500M gain.