Deutsche Bank Spain registered losses of 5.2 million until June

MADRID, 30 Sep. (EUROPA PRESS) -

The Spanish subsidiary of Deutsche Bank has registered losses of 5.2 million euros during the first half of 2022, compared to profits of 6.4 million in the same period of the previous year, according to the financial report sent to the National Commission of the Stock Market (CNMV).

The entity has explained that the 'red numbers' are mainly due to the increase in impairment due to credit provisions, due to the impact of the application of circular 6/2021 of December 22, which modifies the circulars on public and reserved financial information standards and models of financial statements to credit entities and financial credit establishments.

The gross margin reached 240.7 million euros, which represents an increase of 5.3% compared to the first half of 2021, while the interest margin stood at 129.383 million, 2.37% less.

Personnel expenses increased to 101.381 million euros in the first half, compared to 89.725 million in the same period of the previous year. The entity has indicated that the workforce has not suffered any significant variation during the first half of the accounting period.

Deutsche Bank Spain has experienced a growth of its balance sheet in the first half of 1,668 million euros, reaching 19,774 million euros of assets, 9.2% more.

The item that has contributed the most to this growth in assets on the balance sheet has been that of financial assets at amortized cost, which has grown by 1,311 million euros, an increase that corresponds to loans to customers due to greater business activity in the corporate banking and private banking divisions.

On the liability side, the portfolio at amortized cost has increased by 1,264 million euros, equivalent to 7.7%, due to the increase in customer deposits and this greater business activity in the private banking area.