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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Deutsche Bank Aktiengesellschaft | NYSE:DB | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.31 | 1.91% | 16.50 | 16.49 | 16.295 | 16.35 | 1,846,182 | 00:36:35 |
By Josh Beckerman
Deutsche Bank AG warned it expects to record a third-quarter loss of about 6.2 billion euros, partly tied to a huge write-down in its corporate banking and securities segment.
Germany's largest bank, which has lagged behind rivals in terms of profitability, share price and capital adequacy, said the charges are driven by the impact of expected higher regulatory capital requirements and its disposal of its retail unit Postbank , along with a smaller write-down of its 19.99% stake in Chinese lender Hua Xia Bank Co. and 1.2 billion euros in litigation provisions.
It also said it will consider reducing or eliminating its common dividend for fiscal 2015.
Deutsche Bank said earlier this year that it would hive off its mass retail unit Postbank and slash assets at its investment bank as it seeks to boost its profitability and share price.
The company has struggled to boost revenue at Postbank and reap benefits from integrating it. New banking rules, ultralow interest rates and fierce competition in Germany's retail-banking market additionally worked against Deutsche Bank's plans with Postbank.
Deutsche Bank has indicated that it no longer considers its stake in Hua Xia to be strategic and previously indicated that it could sell the stake.
Write to Josh Beckerman at josh.beckerman@wsj.com
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(END) Dow Jones Newswires
October 07, 2015 16:53 ET (20:53 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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