Deutsche Bank: Investment Bank Still Drives Results
Deutsche Bank (DB or the Bank) reported a EUR 278 million profit attributable to shareholders for Q3 2020, up from a loss of EUR 77 million a quarter earlier, supported by lower credit costs and lower noninterest expenses. Investment banking revenues, albeit lower than in Q2 2020 were still strong, comparing favorably to peers. The negative impact from COVID-19 was most visible in the Corporate Bank, where low rates and lower client activity have driven down revenues compared to Q2 2020 as well as compared to the previous year. Private Banking and Asset Management revenues both recovered from a comparatively weak Q2 2020. In DBRS Morningstar's view the strong investment banking environment has helped DB remain on track with regards to its restructuring plan. However, as investment banking revenues normalise, revenues could come under pressure over the coming quarters.Deutsche Bank is a holding company acting as an international financial service provider. Co. offers a wide variety of investment, financial and related products and services to private individuals, corporate entities and institutional clients around the world. Co. has operations or dealings with existing or potential customers in most countries in the world. Co. is organized into the following six corporate divisions: Global Markets (GM); Corporate & Investment Banking (CIB); Private, Wealth & Commercial Clients (PW&CC); Deutsche Asset Management (Deutsche AM); Postbank (PB); and Non-core Operations Unit (NCOU).
Deutsche Telekom is engaged in the telecommunications services and information technology sectors. Co. operates as an integrated telecommunications provider. It is organized into four operating segments: Germany, Europe, and the United States; and Systems Solutions, as well as Group Headquarters and Shared Services. Co. provides fixed-network lines, broadband lines and mobile communications. Co. also provides customized Information and Communication Technology (ICT) solutions for corporate customers under the T-Systems brand. The Group Headquarters and Shared Services segment comprises cross-segment management functions, real estate services, and mobility solutions, among others.
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