Installation view: The Deutsche Bank Series at the Guggenheim, Julie Mehretu: Grey Area, Solomon R. Guggenheim Museum, New York, 2010.
Photo: David Heald © The Solomon R. Guggenheim Foundation, New York
Net income fell to about 700 million euros ($844 million) from 1.2 billion euros a year earlier, according to preliminary results the Frankfurt-based lender disclosed unexpectedly in a statement today. The result missed the 999 million-euro average estimate of six analysts surveyed by Bloomberg. Pretax profit slid to about 1 billion euros from 1.8 billion euros. That compares with an analysts’ estimate of 1.5 billion euros.