The report from Deutsche Bank arrived some time ago and the market was happy to see it. Why one wonders? Well, they expected DB to make a big loss in Q1 and they ended up reporting some earnings. Correct or not? Who knows! With the twist of the magic wand banks can create value as they see fit.
The report in full you can find here and for my previous summary of the DB annual report 2015 then please click on that link and to find out more about DB then visit DB analysis 2016.
As can be seen in the financial statement below DB did indeed report some earnings. If we simply stop caring about that then we see that they kept loosing ground with almost -8%. The costs did also decrease slightly but not enough to compensate for the lost incomes. The cost / income ratio is still useless for DB with 89%.
Conclusion: Things are still not going the way for DB and I do not see the end of the tunnel for them. I still consider it all to be silly and to have gone too far in the negative direction but who am I to say, see or tell how things should be. Mr. Market decides the daily price and I stand and observe the folly.
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