Deutsche Bank Profit Plunges On Charges, Lower Revenues – Update

German financial giant Deutsche Bank AG on Thursday reported a sharp decline in profit for the first quarter, amid lower revenues and a charge related to the sale of Actavis Group to Watson Pharmaceuticals. The company said its Core Tier 1 capital ratio improved and is ahead of time to meet regulatory requirements. Dr. Josef Ackermann, Chairman of the Management Board said: “Against a background of continued caution in global financial markets, we delivered solid results.”