Deutsche Bank’s private client unit to miss pretax profit target
Business growth in foreign markets such as Portugal, Poland, India and China has failed to offset stagnation in the bank's German private clients operations
Deutsche Bank's private and corporate clients unit will fall short of its full-year target of a pretax profit of €1.3bn ($2bn) because of a slump in its securities operations, according to a Thomson Financial News report.
"If there is no fundamental change, we will hardly reach more than €1bn," WirtschaftsWoche quoted a member of the bank's supervisory board as saying in a prerelease of an article to be published on Monday. The unit posted pretax profit of €1.1bn in 2007.
The report said business growth in foreign markets such as Portugal, Poland, India and China has failed to offset stagnation in the bank's German private clients operations.
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