In a surprise announcement,
Deutsche Bank (NYSE:
DB) says it expects to report
Q1 revenue of €6.4B, a mark that tops the consensus estimate of €5.7B.
The bank anticipates expects reporting group profit before tax of €206M and net income of €66M.
Provisions for credit losses are expected to be €0.5B.
Outlook: "The short-term implications of the COVID-19 pandemic make it difficult for the bank to accurately reflect the timing and the magnitude of changes to its original capital plan... It is therefore possible that the bank will fall modestly and temporarily below its previous CET1 target of at least 12.5%... This potential additional balance sheet growth also means that the bank is unlikely to reach its 2020 fully-loaded leverage ratio target of 4.5%, absent regulatory adjustments to the leverage ratio calculation which may increase the banks reported ratio."
Full Q1 results will be posted on April 29.