The German banking heavyweight has reported record losses, weighed down by a series of scandals. Hans-Peter Burghof from the University of Hohenheim says Deutsche Bank must become more cautious and reliable for its clients.
German lender Deutsche Bank has presented its second-quarter earnings report, pointing to surging net and underlying profits. But Chief Executive John Cryan is unhappy about a drop in revenues across all divisions.
Germany's biggest lender has accrued a massive loss for the second year running as legal costs for past misdeeds outstripped profits from bond trading, disappointing investors who had hoped for a better result.
The situation must be really bad for a firm that tries to sell a gigantic loss as a success story, as Deutsche Bank has done. After a year of transition, it's time for CEO John Cryan to deliver, says DW's Henrik Böhme.
With record losses, dismal stock prices, and a quarrel in the oversight committee, there was plenty of incriminating material at hand. But stockholders seemed rather resigned to the misery during their annual gathering.
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