Off the wire
Texas governor proclaims January as Human Trafficking Prevention Month  • U.S. dollar mixed against other major currencies  • Belarus' gold, foreign currency reserves reach 7.3 bln USD  • Madagascar's president says poverty rate cut to 70 percent in 2017  • 40 soccer fans injured as fence collapses at Gulf Cup final  • British stocks up 0.37 pct Friday  • Former Bank of Cyprus CEO sentenced to jail for misleading shareholders  • The Kuwaiti Emir sends congratulation to Oman's Sultan Qaboos over "Gulf Cup" title  • Tanzania says probing cocaine haul seized from the country's flagged ship  • Oman beat UAE in penalty to win Gulf Cup  
You are here:  

Deutsche Bank expects to record small loss in 2017

Xinhua,January 06, 2018 Adjust font size:

FRANKFURT, Jan. 5 (Xinhua) -- Germany's largest commercial bank Deutsche Bank expected to record a small full-year after-tax loss in 2017, according to its latest estimate released on Friday.

Deutsche Bank has estimated the impacts of U.S. tax reforms on its financial results, concluding that 1.5 billion non-cash tax would be charged in the bank's results for the fourth quarter 2017.

Moreover, the bank expects to report positive operating profit for the full year 2017.

The bank will report preliminary fourth quarter and full year results on Feb. 2.

The reduction in the U.S. federal tax rate from 35 percent to 21 percent is expected to reduce its effective tax rate on average to the lower end, the bank said.

However, the revaluation of U.S. Deferred Tax Assets is expected to reduce the capital ratio of the bank by approximately 10 basis points. Enditem