Deutsche Bank AG (DB: Quote) said its net income for the second quarter declined to 661 million euros from 1.2 billion euros in the year-ago quarter. Earnings per share fell to 0.68 euros from 1.24 euros in the prior-year quarter.
Net revenues for the three-month period were 8 billion euros versus 8.5 billion euros last year.
Jürgen Fitschen and Anshu Jain, Co-Chairmen of the Management Board and the Group Executive Committee, stated, "In the second quarter, the Bank's performance was impacted by a volatile environment. The European sovereign debt crisis continues to weigh on investor confidence and client activity across the bank. Our core tier 1 ratio was 10.2% at the end of the second quarter, well in excess of the 9% threshold set by the European Banking Authority for June 2012."
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by RTT Staff Writer
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