(Bloomberg) -- Deutsche Bank AG is no longer planning a second share buyback this year after a provision tied to its Postbank unit pushed it to the first quarterly loss in four years.
“For this year I think prudence would dictate that we step back from seeking a second repurchase authorization,” Chief Financial Officer James von Moltke said in an interview on Bloomberg TV.
If there was a positive outcome at a court hearing on Postbank scheduled for next month, that “would certainly change our positioning”, he said.
Despite the setback, Deutsche Bank remains in a position to significantly exceed its medium-term, €8 billion capital distribution program, von Moltke said.
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