German financial services giant Deutsche Bank (DB: Quote) posted a drop in first-quarter net income to 1.4 billion euros from 2.1 billion euros in the prior-year quarter, with quarterly earnings per share falling to 1.44 euros from last year's 2.13 euros a year ago.
The company stated, "We continue to pursue our strategy of reducing legacy risks and strengthening our capital position, as evidenced by our disposal of Actavis and ongoing progress on litigation issues."
In the Corporate & Investment Bank, net revenues slid 8% in the 2012 first quarter to 6.2 billion euros from 6.7 billion euros in the first quarter 2011.
by RTT Staff Writer
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