29.04.2024 04:54:39 - dpa-AFX: Deutsche Bank Anticipates Postbank Legal Provision To Impact Q2 And FY Profitability
FRANKFURT (dpa-AFX) - Deutsche Bank has provided updates on the ongoing
litigation concerning its acquisition of Postbank, revealing that a legal
provision will affect its second-quarter and full-year profitability as well as
capital ratios. The total estimated amount of all claims, inclusive of
accumulated interest, stands at about 1.3 billion euros.
During a hearing on April 26, 2024, the Higher Regional Court of Cologne
assessed claims from specific former Postbank shareholders, contending that a
higher offer price should have been paid in connection with Deutsche Bank's
voluntary takeover offer of October 7, 2010. The court's indications during the
hearing suggest potential validity in some elements of these claims, which may
impact Deutsche Bank's estimation of future outflows and necessitate a legal
provision in the second quarter of 2024, Deutsche Bank said in a statement.
Despite Deutsche Bank's staunch disagreement with the court's assessment, the
statements made by the court will influence the bank's risk assessment regarding
potential future financial implications.
Deutsche Bank noted that it will continue its thorough analysis of the legal
arguments and the potential impact on financial statements. Overall, the company
does not foresee a significant impact on the bank's strategic plans or financial
targets at this stage.
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