2007

March 31, 2012


During the first quarter of this year, business conditions were significantly more stable, after the extreme market volatility which characterized the second half of 2011. Financial markets recovered across the world, against a backdrop of more encouraging news from the U.S. economy, and clear signals of determination on the part of European policymakers and central bankers to tackle the sovereign debt situation in some Eurozone states. Measures to mitigate stresses in the banking system, including the European Central Bank’s long-term refinancing operations, also contributed significantly to more positive market conditions. Equity markets rallied and credit spreads tightened during the quarter. Nevertheless, investors, particularly private investors, remained wary after the market turmoil of last year, and this cautious sentiment affected business volumes. Furthermore, conditions in the global economy remain challenging. In the United States, employment figures showed signs of improvement, but real estate markets remain subdued. In our home market, Germany, the economy proved its resilience, but levels of sovereign indebtedness in some Eurozone states remained very high whilst the pace of economic recovery was modest. Conditions in the world’s mature economies inevitably affected the outlook for export-driven growth in Asia and other emerging markets.

Deutsche Bank’s first-quarter results reflect both the more stable conditions of the quarter, and continued caution in the world’s financial markets and the wider global economy. They also reflect our prudent approach to risk-taking and capital management without jeopardizing our client facing activities. Group net revenues were € 9.2 billion, down 12 % versus the first quarter of 2011. more

December 31, 2007

“...2007 was an exceptionally challenging year – for the global economy, for the world’s financial markets, for the banking sector, and for Deutsche Bank. For the first six months, business conditions were very favourable: the sentiment  on financial markets was positive, and momentum in the global economy was strong....”

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September 30, 2007

“...The third quarter of 2007 was a period of exceptional turbulence in financial markets. Problems originating in the ‘sub-prime’ mortgage market in the United States caused widespread dislocation across the global financial system. In investment banking, our performance was significantly impacted by this extremely challenging environment; however, our ‘stable’ businesses performed well...”

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June 30, 2007

“...The second quarter of 2007 was highly successful for Deutsche Bank. After an excellent first quarter, we delivered another outstanding quarterly result, with significant earnings growth over the same period last year...”

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March 31, 2007

“...In the first quarter of 2007, Deutsche Bank demonstrated the power and resilience of its business model with exceptional results in turbulent markets. Against a backdrop of increased volatility and sharp corrections in financial markets during the quarter, we delivered our best first-quarter profits ever...”

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