However, Deutsche swung back to profit in 2020, reporting full-year net profit of 113 million euros. The 4.2 billion drop being made up of decline in the value of financial assets by 2.5 billion, an addition 1 billion liability for ACC claimants and a 700 million drop in tax revenue. 3 Deutsche Bank finally put a number on its losses from the home-lending crisis, saying today that it expected to write down 3.1 billion in loans and mortgage-backed assets. The bank has embarked on a mass restructure of its business over the past two years, the cost of which had weighed on earnings alongside elevated credit provisions. A drop in the Government’s surplus of 4.2 billion from a 3.8 billion surplus to a 0.4 billion deficit. hedge fund Archegos Capital which saw UBS, Credit Suisse and several others take significant hits in the first quarter. The bank also avoided the fallout from collapsed U.S. Von Moltke added that while the normalization of the macro themes that had been driving investment bank growth had continued into the second quarter, the overall environment was still "reasonably encouraging." "What I call the macro products of FX, rates and emerging markets, we have seen some more normalization through the course of the first quarter." "The credit business year-on-year of course was very strong, and so you had some mark-to-market losses in the environment that we had last year and a pretty strong environment for credit this year," von Moltke said. The investment bank performance was driven largely by a 34% climb in revenues in the fixed income and currencies (FIC) division to 2.5 billion euros, buoyed by strong year-on-year growth in the credit market. "We have talked about how those businesses are still fighting through the headwinds of negative interest rates, but that we are seeing underlying growth in them more than offsetting, or offsetting at least, the interest rate headwinds," von Moltke told CNBC's Annette Weisbach. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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