07:17 AM EDT, 07/16/2024 (MT Newswires) -- Deutsche Bank ( DB ) failed to correctly disclose its deferred tax assets in its 2019 financial statement, which did not meet international accounting standards, Germany's Federal Financial Supervisory Authority, or BaFin said on Tuesday.

BaFin said Deutsche Bank ( DB ) did not separately disclose deferred tax assets of 2.076 billion euros ($2.26 billion) in the notes for its US business.

The bank also should also have explained specifically why it was convinced that it would generate sufficient profits in the future, which it also did not do, the regulator said.

Deutsche Bank ( DB ) did not immediately respond to a request for comment from MT Newswires.

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