Deutsche Bank anticipates a weak first quarter as a result of volatility – Yahoo Finance Spain

FRANKFURT (GERMANY), 11 (EUROPA PRESS)

The German company Deutsche Bank has acknowledged that it expects a first quarter “strong” in this year due to volatility in the markets and stressed that will do “everything in its power” to promote the company and reduce uncertainty.

in a letter on the occasion of the publication of his annual report, the co-chairs of Deutsche Bank, John Cryan and Jürgen Fitschen, have stressed that the beginning of 2016 was marked by volatility in financial markets globally.

This situation “has affected the sector banking, “Cryan and Fitschen have said before what they have advanced to the usual” strong “first quarter of the year can become a” challenge “for the sector. “Deutsche Bank is no exception,” they indicated.

Nevertheless, the co-chairs of the German company stressed that despite the period of turbulence, Deutsche Bank “continues to be very strong,” at what have highlighted the strength of its capital base, liquidity position and level of tier 1 capital above required.

However, the company decided not to distribute dividend for 2015 and 2016 to its shareholders, before it has been recognized that currently is in a “critical period of restructuring”, which is necessary to strengthen its capital position. “It’s the right decision to restore confidence,” they have ensured.

In addition, the co-chairs have said they hope to “solve important legal and regulatory issues” throughout this year, “reducing uncertainty involved “at what they have recognized that they can not ensure that the provisions of the entity” are sufficient to cover all costs. “

” the board is committed to doing everything in its power to ensure that our people identify with Deutsche Bank and again speaks of his employer with pride, “have ensured Cryan and Fitschen in his letter.

During the first two months of the year, Deutsche Bank fell as more 40% on the stock market amid doubts about its solvency and closed 2015 with net attributable loss of 6,794 million euros, marking its first negative annual result since 2008

.