Deutsche Bank likely to report 25 pct Q1 ROE-paper
Sun Apr 26, 2009 10:34am EDT
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Looks like another successful quarter of a big bank. DB will very likely report a big profit. DB is an interesting case because this is one of very few big banks which has almost no toxic debt anymore in the balance sheet. These guys managed to get rid of the toxic waste right before this market collapsed. They never took help from the government and still insist they will not do so in the future. So DB should be fine. However, DB also feels the pressure related to the next waves of the crisis apart from the collapse of private real estate --> See the next post.
Imo no bank can escape from the crisis independent of the question whether it was directly involved in the housing collapse or not.
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FRANKFURT, April 26 (Reuters) - Deutsche Bank (DBKGn.DE) is likely to have reached its long-term goal of a 25 percent return on equity in the first quarter, German newspaper Handelsblatt said, citing financial sources.
In the prelease of a report to be published on Monday, the newspaper also quoted the bank's Chief Executive Josef Ackermann as saying that he was sticking to the target.
"A return on equity of 25 percent has long been what the world's best have achieved. Of course this has become more difficult in the crisis, but some banks have reached this yardstick in the first quarter of this year or have at least come very close," Ackermann told Handelsblatt. (Reporting by Ludwig Burger; editing by Karen Foster)
