On Air Now

Listen

Listen Live Now » 92.5 FM Sioux Falls, SD

Weather

Current Conditions(Sioux Falls,SD 57104)

More Weather »
64° Feels Like: 64°
Wind: E 15 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Mostly Sunny 69°

Tonight

Clear 46°

Tomorrow

Sunny 73°

Alerts

Deutsche Bank Q1 pretax profit tumbles as trading weighs

A man walks past Deutsche Bank offices in London December 5, 2013. REUTERS/Luke MacGregor
A man walks past Deutsche Bank offices in London December 5, 2013. REUTERS/Luke MacGregor

FRANKFURT (Reuters) - Deutsche Bank's pretax profit fell by 30 percent in the first quarter to 1.68 billion euros ($2.33 billion), the bank said on Tuesday, depressed by an industry-wide slump in bond trading revenue.

Pretax profit in the investment banking division fell by more than a fifth, dragged down by a 10 percent fall in trading income, the bank said in a statement. The division includes Deutsche Bank's main trading unit - fixed income, currencies and commodities, or FICC.

Deutsche Bank had been expected to post quarterly pretax profit of 1.4 billion euros ($1.9 billion), around 1 billion less than a year earlier, according to the average result of a Reuters poll.

This version of the story changes 'revenue' to 'pretax profit' in second para

(Reporting by Thomas Atkins; Editing by Noah Barkin)

Comments