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Deutsche Bank profit warning

Deutsche Bank profit warning
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Deutsche Bank is warning of weakness to come in its core investment banking division as it reported a 3.3 percent increase in net profit for the second quarter.

That as it named Anshu Jain and Juergen Fitschen as its co-chief executives from next year replacing Joseph Ackerman who moves up to be chairman of the supervisory board.

It may miss its goal of generating almost six and a half billion euros from investment banking due to the European debt crisis.

That target, it says, “is dependent on swift and sustained resolution of the European sovereign debt crisis and a return to a significantly improved operating environment in the second half of this year.”

However it is sticking by its target of 10 billion euros in pretax profit this year for the group as a whole.