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CORRECTED-Deutsche Bank Q1 pretax profit tumbles as trading weighs
April 29, 2014 / 5:07 AM / 3 years ago

CORRECTED-Deutsche Bank Q1 pretax profit tumbles as trading weighs

(Changes ‘revenue’ to ‘pretax profit’ in second para)

FRANKFURT, April 29 (Reuters) - Deutsche Bank’s pretax profit fell by 30 percent in the first quarter to 1.68 billion euros ($2.33 billion), the bank said on Tuesday, depressed by an industry-wide slump in bond trading revenue.

Pretax profit in the investment banking division fell by more than a fifth, dragged down by a 10 percent fall in trading income, the bank said in a statement. The division includes Deutsche Bank’s main trading unit - fixed income, currencies and commodities, or FICC.

Deutsche Bank had been expected to post quarterly pretax profit of 1.4 billion euros ($1.9 billion), around 1 billion less than a year earlier, according to the average result of a Reuters poll. ($1 = 0.7223 Euros) (Reporting by Thomas Atkins; Editing by Noah Barkin)

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