Deutsche Bank shows 3Q loss in wealth management - Spear's Magazine

Deutsche Bank shows 3Q loss in wealth management

In the third quarter, Deutsche Bank’s Asset and Wealth Management operations reported a pre-tax loss of EUR 95 million.

30.10.08

In the third quarter, Deutsche Bank’s Asset and Wealth Management operations (AWM) reported a pre-tax loss of EUR 95 million, compared with a EUR 265 million profit the previous year. AWM revenues fell 37 percent on an annual basis.

Portfolio and fund management revenues fell 31 percent, and 13 percent in Private Wealth Management (PWM). In the latter case, this was partly compensated by revenue growth from the inflow of invested assets.

In Private Clients and Asset Management, net revenues for the quarter fell 16 percent on the previous year, to EUR 2.1 billion.

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