Banking Law News

Deutsche Bank Says Loan Provisions to Hit Eleven-Year High (1)

June 10, 2020, 10:01 AM

Deutsche Bank AG will set aside the most money in more than a decade to cover the cost of loans souring as Germany’s largest lender grapples with the economic collapse in the wake of the coronavirus pandemic.

Expenses to cover such losses are expected to peak this quarter at about 800 million euros, Chief Financial Officer James von Moltke said at a virtual conference at which he spoke together with chief risk officer Stuart Lewis. That would be the highest since the aftermath of the financial crisis and exceed the bank’s analyst consensus forecast of 630 million euros.

Christian Sewing
Photographer: Alex Kraus/Bloomberg


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