Darker credit forecast forces Deutsche’s PCLs up to €161m
Provisions for credit losses rise from €94m in the year-ago quarter
The amount of cash that Deutsche Bank put aside to cover expected credit losses in the second quarter of this year was 14% higher than in Q1, as its macroeconomic forecast darkened and its loan book grew.
Total provisions for credit losses (PCLs) hit €161 million ($179 million) for the three months to end-June, up from €141 million in Q1 2019, and €94 million in the year-ago quarter. Total loans held at amortised cost climbed quarter-on-quarter by just 1% to €415 billion, and by 6% year-on
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