Shares of Deutsche Bank
DBK,
+8.93%

DB,
-3.72%

climbed over 8% in early trade as it said on Sunday that it will report a first-quarter profit of 66 million euros, topping expectations, and take a provision for loan losses of around 500 million euros. Its Common Equity Tier 1 ratio was 12.8% at quarter-end, down from 13.6% at year-end, which includes a 30 basis points negative impact from the revised securitization framework and approximately 40 basis points of items precipitated by the COVID-19 pandemic. Deutsche Bank said it’s possible it will fall “modestly and temporarily” below its previous CET1 target of at least 12.5%. Full details of Deutsche Bank’s first-quarter results will be disclosed as planned on April 29.


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