Business

Deutsche Bank profits knocked by debt crisis

  • 2 February 2012
  • From the section Business

Deutsche Bank has reported a sharp fall in profits after the eurozone debt crisis took its toll on the company's investment banking division.

Net income at Germany's biggest bank in the final three months of last year was 186m euros ($245m; £155m), down from 605m euros a year earlier.

Revenues from investment banking fell by a quarter compared with a year earlier to 3.4bn euros.

Trading in bonds and shares were hit particularly hard by the debt crisis.

Volumes were down as uncertainty about the crisis and the wider economic outlook undermined investor confidence.

"The fourth quarter 2011 featured continued market uncertainty and lack of investor risk appetite leading to subdued market activity," the bank said.

"The European sovereign debt crisis had a particularly marked effect on activity levels in Europe, where Deutsche Bank has a substantial portion of its business."

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