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

Deutsche Bank AG (DBK), Germany’s biggest bank, said it will reduce risk to meet its 2013 capital ratio goal after second-quarter profit missed analysts’ estimates on expenses tied to a weaker euro.

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.

A temporary headquarters of Deutsche Bank AG in Frankfurt. Photographer: Alex Kraus/Bloomberg

Source: Bloomberg