Deutsche_Bank-Logo.svg.pngGermany's biggest bank Deutsche Bank (NYSE: DB) seems to have found a secret ingredient that helped the bank avoid the same route taken by other banks hit by the economic crunch.

Deutsche Bank on Tuesday admitted that there will be no need to raise additional capital and expects to post a Q2 profit. Just a day ago, the bank's shares saw a major slide after the rumors that the bank could issue a profit warning. On Monday shares in Deutsche Bank sank by 4.39%

"Based on its current expectations, it anticipates reporting a profitable second quarter 2008 when it announces quarterly earnings as scheduled on 31 July," a Deutsche Bank statement said.

"The bank does not expect its financial performance in the second quarter to result in a requirement for further capital."

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Deutsche Bank yet remains very cautious about giving forecasts for the whole year, following the first quarter loss of 131 million euros ($ 207 million), its first in five years.

Well, Deutsche Bank is indeed looking great at the moment, given the present economic circumstances. Can't wait for the end of this month, when the moment of truth will finally come.

Reference

http://www.db.com/presse/en/content/press_releases_2008_4020.htm