Global financial crisis By James Wilson in Frankfurt
Published: July 28 2009 07:46 | Last updated: July 28 2009 20:39
Shares in Deutsche Bank, Germany’s biggest bank, tumbled 11 per cent on Tuesday amid renewed fears over its exposure to the economic crisis and increased provisions against bad loans.
The concern over bad loans overshadowed a second successive quarter in which profits from investment banking helped Deutsche earn net income of more than €1bn.
In focus: chief executive Josef Ackermann predicted ‘continued pressure’ on credit as Deutsche raised its loan provisions to €1bn
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