A lagging economy, messy politics and negative interest rates have combined to brutalize European lenders, few more prominently than Deutsche Bank AG. The German bank reported steep second-quarter falls in its investment-banking and securities-trading businesses, a potent sign of the bank’s acute struggles and of the deep malaise that has settled over Europe’s financial institutions. Its...
Deutsche Bank's second quarter net income has tumbled 98% from €818m ($908m) a year earlier to €20m. Deutsche Bank executives have cited EU economic and political uncertainty as the reasons behind the bank's declining revenue from securities sales and trading. The bank is also struggling with its exposure to European sovereign debt that it bought in 2008 at an average cost of about €100bn.