FRANKFURT (Reuters) – Deutsche Bank posted its first second-quarter loss in four years on Wednesday after setting aside a 1.3 billion euro ($1.8 billion) provision to cover investor lawsuits over its acquisition of Postbank.
The bank’s net loss attributable to shareholders was 143 million euros in the quarter, compared with a profit of 763 million euros a year earlier but smaller than analysts had expected, with a loss of around 280 million euros.
Germany’s largest bank has thus ended its run of profits after 15 consecutive quarters of losses, a setback for the group’s recovery under CEO Christian Sewing.
The bank also revised upwards its forecast for loan loss provisions for the full year.
The CEO nevertheless said the bank would meet its 2025 targets and shareholder distribution commitments.
(Reporting by Tom Sims and Matthias Inverardi; by Diana Mandia, edited by Blandine Hénault)
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