Deutsche Bank Posts Pre-tax Profit In Q2, Provision For Credit Losses Up; Stock Down

Deutsche Bank AG reported Wednesday a pre-tax profit in its second quarter, compared to last year's loss, despite higher provision for credit losses. Net revenues edged up with good growth in Core Bank revenues, while asset management revenues were weak. Looking ahead, the German banking major reaffirmed its guidance for full year 2020 provision for credit losses of between 35-45 basis points..