June 10, 2020 3:40 pm
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Corona crisis: Deutsche Bank increases risk provisions
Deutsche Bank wants to make more money available for the consequences of the corona crisis, CFO James von Moltke declared today, Wednesday, at an event for investors. In the second quarter, the bank will add up to 800 million to risk provisions. Between January and March, Germany’s largest financial institution had already set aside around 500 million euros for bad loans.
Deutsche Bank’s management expects risk provisions to reach up to 0.45 percent of the total loan amount by the end of the year. Von Moltke expects the crisis to worsen further. Bloomberg Law
This post was written by Jens Secker
(Image rights: istockphoto.com/instamatics)