Deutsche Bank might issue profits warning
Germany's largest bank, Deutsche Bank has said that it might record lower profit than expected profits as it recorded higher losses from sale of non-core assets.
The bank said that it is considering a profit warning as officials said that the coming results are expected to be lower than investor expectations. The bank is expected to release fourth-quarter results on 29 January, 2014. The bank expects higher losses from sale of non-core assets.
The bank has been struggling to sell its non-core assets to boost its capital ratios. It recorded higher losses during the fourth quarter of the year. The earnings of the bank are also expected to report weak bond trading income during the quarter. The bank earnings might also be affected as it keeps more reserves to meet legal and accounting costs.
Deutsche Bank was fined $1.9 billion the US Federal Housing Finance Agency to settle claims that it duped two firms by selling mortgage-backed securities before the 2008 financial crisis.