Credit model update holds down loss provisions at Deutsche
An upgrade to its expected credit loss (ECL) model allowed Deutsche Bank to liberate a net €103 million ($115 million) of provisions in Q3, helping cap its overall charge for the quarter.
Total provisions for credit losses (PCLs) taken from Q3 income were €175 million, up €14 million on Q2 and €86 million on the year-ago quarter. Without the model update, however, the charge would have been €278 million, to cover lower recoveries and increased provisions for impaired assets.
The bank said it
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