FILE - In this Oct. 25, 2011 file picture the headquarters of Deutsche Bank, center, is seen in Frankfurt, Germany. The bank says Tuesday, July 31, 2012, earnings fell 46 percent in the second quarter as the eurozone debt crisis hurt investment banking activity and revenue from trading securities. Germany's largest bank said that income fell at its investment banking division as fewer client companies came to the bank for its services helping them issue shares. (AP Photo/Michael Probst, File)
July 31, 2012 - 2:06 AM
FRANKFURT - Deutsche Bank says earnings fell 46 per cent in the second quarter as the eurozone debt crisis hurt investment banking activity and revenue from trading securities.
Net earnings fell to €661 million from €1.233 billion in the same three months a year ago. Revenues were down 6 per cent to €8.0 billion.
The earnings statement Tuesday was the first reported under new co-CEOs Anshu Jain and Juergen Fitschen. They said, "The European sovereign debt crisis continues to eigh on investor confidence and client activity across the bank."
European governments such as Spain and Italy are struggling with high levels of debt, and the prospect they might default or need bailouts has unnerved markets.
The earnings release added detail to an early release of a few numbers last week.
News from © The Associated Press, 2012