Ibn Erik
29-10-2009, 08:49
é ou não é? :p
Investment banking boosts D Bank profits
Deutsche Bank’s best-ever third quarter for its most valuable investment banking activities underpinned pre-tax profits of €1.3bn for the three months to the end of September, Germany’s largest bank reported on Thursday.
The strong results from debt and equities sales and trading combined with €369m of net tax benefits pushed Deutsche Bank’s quarterly net income to €1.4bn, compared with €414m in the same period last year when markets were unnerved by financial turmoil, including the collapse of Lehman Brothers.
But Deutsche increased its quarterly provisions against credit losses from €236m a year ago to €544m. In the second quarter of this year, the figure was substantially higher at €1bn.
For the first nine months of 2009 the bank has made €2.1bn of provisions, reflecting much greater wariness about how borrowers will be affected by the continuing economic crisis.
The trading results add to debate about whether the profits being made from investment banking will be sustainable or whether Deutsche and rivals are benefiting from favourable market conditions, which may change if regulators increase capital requirements for banks.
Josef Ackermann, chief executive, said in the bank’s statement that it “has indeed emerged stronger from the crisis”.
“This creates opportunities for us to bolster our long-term competitive position,” he said.
Deutsche said it had gained US market share in fixed income trading and cash equities, while on Wednesday Deutsche completed a framework agreement to buy Sal Oppenheim, one of Europe’s best-known privately owned banks, for €1bn to boost Deutsche’s wealth management business.
The bank announced its headline profits for the quarter last week.
Group net revenues in the third quarter were €7.2bn, including €5.1bn in Deutsche’s corporate and investment banking division – three times as high as the net revenues from the division in the same period last year, when Deutsche made substantial writedowns of €1.2bn.
In the most recent quarter, Deutsche noted charges of €350m related to Ocala Funding, a commercial paper vehicle, and €111m on changes in credit spreads on its own debts. These were more or less balanced by mark-ups on some exposures, especially to monoline insurers, of €319m and €110m of gains from the sale of a stake in Daimler.
The results also hinted at the increased bonus pool being set aside for Deutsche employees, with compensation expenses – mainly driven by performance-related accruals – reaching €9bn in the first nine months of the year, up from €7.5bn in the same period in 2008.
Revenues rose 8 per cent in Deutsche’s asset and wealth management division, helping to return this division to pre-tax profit. Results from retail and business banking were disappointing, with revenues down 3 per cent and pre-tax profits down 43 per cent
Deutsche’s diluted earnings per share rose from €0.83 a year ago to €2.10.
Copyright The Financial Times Limited 2009. You may share using our article tools. Please don't cut articles from FT.com and redistribute by email or post to the web.
http://www.ft.com/cms/s/0/dfdb110e-c45d-11de-912e-00144feab49a.html
nem parece que estamos a viver uma crise financeira e bancária. ou estamos? :rolleyes:;):D
Investment banking boosts D Bank profits
Deutsche Bank’s best-ever third quarter for its most valuable investment banking activities underpinned pre-tax profits of €1.3bn for the three months to the end of September, Germany’s largest bank reported on Thursday.
The strong results from debt and equities sales and trading combined with €369m of net tax benefits pushed Deutsche Bank’s quarterly net income to €1.4bn, compared with €414m in the same period last year when markets were unnerved by financial turmoil, including the collapse of Lehman Brothers.
But Deutsche increased its quarterly provisions against credit losses from €236m a year ago to €544m. In the second quarter of this year, the figure was substantially higher at €1bn.
For the first nine months of 2009 the bank has made €2.1bn of provisions, reflecting much greater wariness about how borrowers will be affected by the continuing economic crisis.
The trading results add to debate about whether the profits being made from investment banking will be sustainable or whether Deutsche and rivals are benefiting from favourable market conditions, which may change if regulators increase capital requirements for banks.
Josef Ackermann, chief executive, said in the bank’s statement that it “has indeed emerged stronger from the crisis”.
“This creates opportunities for us to bolster our long-term competitive position,” he said.
Deutsche said it had gained US market share in fixed income trading and cash equities, while on Wednesday Deutsche completed a framework agreement to buy Sal Oppenheim, one of Europe’s best-known privately owned banks, for €1bn to boost Deutsche’s wealth management business.
The bank announced its headline profits for the quarter last week.
Group net revenues in the third quarter were €7.2bn, including €5.1bn in Deutsche’s corporate and investment banking division – three times as high as the net revenues from the division in the same period last year, when Deutsche made substantial writedowns of €1.2bn.
In the most recent quarter, Deutsche noted charges of €350m related to Ocala Funding, a commercial paper vehicle, and €111m on changes in credit spreads on its own debts. These were more or less balanced by mark-ups on some exposures, especially to monoline insurers, of €319m and €110m of gains from the sale of a stake in Daimler.
The results also hinted at the increased bonus pool being set aside for Deutsche employees, with compensation expenses – mainly driven by performance-related accruals – reaching €9bn in the first nine months of the year, up from €7.5bn in the same period in 2008.
Revenues rose 8 per cent in Deutsche’s asset and wealth management division, helping to return this division to pre-tax profit. Results from retail and business banking were disappointing, with revenues down 3 per cent and pre-tax profits down 43 per cent
Deutsche’s diluted earnings per share rose from €0.83 a year ago to €2.10.
Copyright The Financial Times Limited 2009. You may share using our article tools. Please don't cut articles from FT.com and redistribute by email or post to the web.
http://www.ft.com/cms/s/0/dfdb110e-c45d-11de-912e-00144feab49a.html
nem parece que estamos a viver uma crise financeira e bancária. ou estamos? :rolleyes:;):D