FRANKFURT (Reuters) -Deutsche Bank’s revenue at its investment bank division likely dropped by at least 15% in the second quarter from a year earlier, the lender’s finance chief said on Thursday, a bigger drop than analysts have until now expected.
James von Moltke, speaking at a financial conference, said that the quarter’s revenue at the investment bank would be “down 15%, maybe a little worse than that”.
Analysts until now had expected revenue of 2.386 billion euros in the second quarter, according to the latest consensus on Deutsche Bank’s website. That is a 10% drop from a year ago.
He said the outlook was “reasonably favourable”.
Deutsche Bank’s shares were down 2.3% at 1100 GMT, after having lost ground while he was speaking.
(Reporting by Tom SimsEditing by Miranda Murray)
