Deutsche Bank Records First Quarterly Loss Since 2020

Deutsche Bank reported a quarterly loss due to Postbank provisions, with investment banking being the driving force behind the business. Despite a pre-tax profit of 1.7 billion euros, the Postbank acquisition fell short of expectations and continues to pose challenges.

The loss in the second quarter of 2021 amounted to 143 million euros primarily because of a significant provision of 1.3 billion euros for the Postbank takeover dispute. The bank's revenue increased by two percent to 7.6 billion euros, resulting in a half-year profit of 1.1 billion euros from a total revenue of 15.4 billion euros.

Following a strategic shift last year focusing more on Europe to mitigate risks, Deutsche Bank aims to achieve its 2025 objectives. Shareholders criticized the handling of the Postbank acquisition issue, while the integration caused customer problems prompting regulatory intervention.

The bank, although witnessing growth in the investment banking sector, faced a rise in risk provisions. Deutsche Bank plans further cost-cutting measures, aiming to continue shareholder payouts, and mourns the passing of former CEO Rolf Breuer.