The new head of Deutsche Bank starts with good numbers – FAZ – Frankfurter Allgemeine Zeitung

      

 
 
 
 
 
     
 
 
 
 
 
 
 
 
         

 
 
 
 
 
          The quarterly figures are once solid, but for the German bank much remains do.
     

 
                                              

 
 
     
     
     
         
         
                                                             

The German bank has continued its upward trend in daily business. Pre-tax profit climbed in the second quarter compared to the same period last year by 34 percent to 1.2 billion euros, as the Dax Group announced in Frankfurt on Thursday.

                         
         
         
                                                             
                                 

The bottom line, the profit has 818 million euros more than tripled. A year ago, an extraordinarily high tax burden had burdened the balance sheet. For legal disputes, the Bank had to spend 1.2 billion euros in the second quarter of the current year, almost three times as a year earlier.

                         
         
         
                                                             

It is the first quarter balance sheet under the new Co-Chief Executive Officer John Cryan, who had surprisingly Anshu Jain replaced on 1 July. “The second quarter illustrates the strengths of Deutsche Bank, but also the challenges that we face,” said the Briton, who was the last two years on the Supervisory Board. Revenues were indeed solid growth. “However, our challenges are clear. Unacceptably high costs, persistently high burden of litigation to balance intensive businesses and overall returns for our shareholders, which is too low”

                         
         
         
                                                                                                                                                                                                  

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Cryan, who has made as a restructuring at the Swiss UBS a name, had on his inauguration , weaknesses Deutsche Bank decided to tackle. He currently broods over the details of the “Strategy 2020″, it is to be presented in the autumn. The Briton to lead the German bank nor until the general meeting in 2016 together with Jürgen Fitschen and thereafter sole CEO.

                         
         
         
                                                             

scandals and billions penalties have battered the image of the bank. The since June 2012 Reigning double tip Jain / Fitschen was increasingly come under criticism. At the annual general meeting in May, shareholders punished from the duo. In early June, the Supervisory Board finally set the stage for a new beginning in the management team.

                                 

 
  

 
 
 
                       

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John Cryans first assessment

The new head of Deutsche Bank starts with good figures

The new co-CEO of Deutsche Bank presented good quarterly results. At the same time pouring John Cryan water in the wine. He warns of “unacceptably high costs”.

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