Deutsche Bank’s Strong Bounce

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Deutsche Bank’s Strong Bounce

By Zacks Investment Research on April 29, 2009 | More Posts By Zacks Investment Research | Author's Website

Today, Deutsche Bank AG (DB) reported a strong bounce in earnings, posting net income before nonrecurring items of EUR1.4 billion compared to a EUR985 million loss in the prior-year quarter. This was well ahead of our EUR198 million estimate for the quarter.

This result was primarily driven by a EUR9.8 billion positive swing in trading income to a gain of EUR1.9 billion from a loss of EUR7.9 billion in the year-ago quarter, partly offset by a 95% drop in net gains on financial assets/liabilities to EUR338 million from EUR6.3 billion last year. Net interest income advanced 44% to EUR3.8 billion.

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