Deutsche Bank reports 1Q loss as WM arm sees 18% rise in revenues

Deutsche Bank reported a 1Q net loss of €43m this morning while growing revenues in its wealth management business and massively ramping up credit provisions grew from low levels in 2019, reflecting the deteriorating macro-economic environment as the covid-19 outbreak takes it toll. The German multi-national, which is mid-way through a global restructuring, is the latest European bank to report its 1Q earnings, following regional rivals Credit Suisse and HSBC. Overall the bank's performance beat analysts' expectations, with the wealth management division a particular bright spot. The ...