Deutsche Bank (DBK) Q2 earnings

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Deutsche Bank (DBK) Q2 earnings

Deutsche Bank offices in the City of London on July 2, 2024, in London, U.K. 

Mike Kemp | In Pictures | Getty Images

Germany’s largest lender Deutsche Bank on Wednesday snapped a 15-quarter profit streak with a narrower-than-expected loss, as it made a provision for an ongoing lawsuit over its Postbank division.

Net loss attributable to shareholders was 143 million euros ($155.1 million), against an LSEG poll of analysts which had predicted a loss of 145 million euros.

Back in April, the bank had posted a 10% hike in first-quarter profit, smashing expectations on the back of a rebound of its investment banking division. It also said it was its highest first-quarter profit since 2013 and marked the bank’s 15th straight quarterly profit.

The lender came under ***** at home last week, as ******* regulators criticized Deutsche Bank for incorrectly disclosing deferred tax assets in its 2019 financial statement, which were not in line with international accounting standards.

******* regulator BaFin estimated that around 2.076 billion euros worth of deferred tax assets had not been disclosed separately in the notes for Deutsche Bank’s U.S. business.

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