Deutsche announces weak results after anointing Ackermann heirs

Deutsche Bank's results are down on lower sales and trading volumes, indicating the challenge ahead for newly named co-chairmen Juergen Fitschen and Anshu Jain.

Deutsche announces weak results after anointing Ackermann heirs

Deutsche Bank became another investment-banking casualty during the second quarter, as it took a hit from lower sales and trading volumes. The German bank announced the results just one day after naming Juergen Fitschen and Anshu Jain as successors to Josef Ackermann as co-chairmen of the board.

Net profit for the quarter reached 1.2 billion $1.7 billion, up marginally over the first quarter and flat year-on-year.

“In the current period, many...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Print Edition

FinanceAsia Print Edition

EVENTS