Deutsche Bank’s corporate banking and securities arm has made a second quarterly loss in nine months on the back of writedowns that were slightly higher than it warned at the start of this month. The German bank also succumbed to the same fate as several rivals in posting a net loss at group level.

Deutsche said today in its first-quarter results statement that it wrote down €2.7bn ($4.2bn) on leveraged loans and loan commitments, commercial real estate and residential mortgage-backed securities. The writedowns were higher than the rough €2.5bn figure Deutsche provided when it warned of first-quarter valuation reductions on April 1.