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Deutsche Bank says to post first-quarter profit above expectations

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Deutsche Bank says to post first-quarter profit above expectations
FILE PHOTO: The financial district with the headquarters of Germany's largest business bank, Deutsche Bank , is photographed on early evening in Frankfurt, Germany, January 29, 2019. REUTERS/Kai Pfaffenbach   -   Copyright  Kai Pfaffenbach(Reuters)
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FRANKFURT (Reuters) – Deutsche Bank expects to post a first-quarter net profit of about 200 million euros (£172.7 million), beating analysts’ expectations of 29 million.

Germany’s flagship lender, which on Thursday called off merger talks with peer Commerzbank, said that first quarter pretax earnings would amount to about 290 million euros, exceeding expectations of 260 million, but lagging the 432 million posted in the year-earlier period.

Revenues are expected to be 6.4 billion, including 3.3 billion in the Corporate & Investment Bank, with costs down to 5.9 billion and a Common Equity Tier 1 ratio of 13.7 percent at the end of the quarter, it said. 

The bank is due to report detailed first quarter earnings on Friday.

(Reporting by Arno Schuetze; editing by Thomas Seythal)

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