PIPS
PIPS
Deutsche Clears the Hedge
Officials at Deutsche Bank might be forgiven for looking a little smug at the bank's interim earnings press conference in Frankfurt last Wednesday. Apart from reporting strong results almost across the board following the much-criticized merger with BankersTrust, the group also revealed that it had booked a whopping one-off profit of €576 million ($613 million) in the first half, from an exchange rate hedge connected to the US dollar denominated purchase of the US bank.
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