Deutsche Bank chief executive Josef Ackermann has said that the worst of the subprime crisis is over and that he expects investors' confidence should soon return.
Speaking on a visit to India, Mr Ackermann said Asia will see limited impact from the subprime crisis and that the underlying fundamentals of the emerging economies are still very strong.
Yesterday, the bank reported its third-quarter pretax profit, which declined to a consensus-beating €1.449 billion from €1.782 billion as its results were not as badly hit by the global credit crunch as expected.
Net interest income was up to €2.133 billion from €1.905 billion a year earlier, exceeding the consensus of €1.749 billion.
Agencies
