When a company doesn’t perform well, it affects its shares, and that’s what happened with Deutsche bank. The German bank recently released its second-quarter earnings report, which states that it has booked a massive loss of more than 1.7 billion euros. Recently Deutsche bank said that it’s going through an extensive restructuring program. Now, this idea of restructuring has led the bank into a massive loss of more than 1.7 billion euros. The banking company is not performing well from the last few years because of which it has decided to go through a massive restructuring program.
However, investors were hoping for better results, but that didn’t happen. German-based Deutsch bank went into a pile of losses which has dragged the company’s shares down. While announcing a significant restructuring plan, executives said that they would record a net loss of 2.8 billion euros for the quarter. Deutsche Bank is going through massive changes because it’s changing core businesses. The banking company has decided to shut down those sectors which are not performing well like investments in long term assets which are not fetching any profits. Last twelve months were harder for Deutsche bank since it booked huge amount of losses.
In the last year for the same quarter, Deutsch bank earned a massive amount of profit of more than 401 million euros. The banking company would have continued their same strategy in this quarter as well, but they had to make some changes. This year’s second quarter shows Deutsch bank earning 6.2 billion euros versus 6.59 billion euros which it earned last year. Standard equity capital ratio is 13.4% versus 14.7% of the previous year. Substantial strategic transformed charges which were put on Deutsch bank is approximately 3.4 billion euros.
Carolyn is a technology graduate and loves to write about anything related to technology as well as writes in others sectors. Carolyn is a professional writer with over 7 years of experience. Initially starting off as a programmer, Carolyn decided to combine her knowledge about technology and writing and that’s how she joined Reporter Expert.