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Frankfurt / Main (dpa) - Due to the Corona crisis in 2020, Deutsche Bank is putting back significantly more money for possible loan defaults than a year earlier.
"The risk provision now expected for the full year of around 1.8 billion euros is within the range that we forecast in April," said CFO James von Moltke of the weekly newspaper "Die Zeit" (Thursday).
In 2019 it was around 700 million euros.
The Frankfurt Dax Group plans to publish its balance sheet for the full year on February 4th.
Von Moltke emphasized: "Mind you, these are provisions for possible loan defaults, not write-offs on actual defaults."
Even compared to other globally active banks, that is rather little.
Some US institutes have set aside double-digit billions.
Germany is “economically quite stable” and Deutsche Bank has given “few consumer loans ... which are the first to fail in such a situation,” explained the CFO.
Like many experts, von Moltke also expects the number of company bankruptcies to increase in 2021. "The number of bankruptcies will increase, that is correct."
This is due to the catch-up effect because the special regulation created during the pandemic is expiring.
Companies that became insolvent due to the Corona crisis were not obliged to file for bankruptcy between March and September 2020 inclusive.
For cases of over-indebtedness, the legislature has extended this exception to the end of January 2021.
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