Deutsche Bank’s 4th quarter profit rises in 3rd year of annual profit |

FRANKFURT, Feb 2 (Reuters) – Deutsche Bank( DBKGn.DE )’s fourth-quarter profit beat expectations and contributed to a third straight year of gains, helped by higher interest rates and buoyant trading but eased by a backlog of deals. shook the industry.

Figures released on Thursday showed that net profit attributable to shareholders in the three months ended December 31 was 1,803 billion euro (1.99 billion dollars) organized. That compares with a profit of 145 million euros a year earlier and better than analysts had expected a profit of around 951 million euros.

It was the tenth consecutive quarter with the longest black gain in at least a decade.

Profit for the whole year 5,025 billion euros, compared to 1.940 billion euros a year earlier, and better than expectations of 4.174 billion euros. German, 20It is the biggest annual profit since 07 and 1.4 billion euros tax he said his concession helped.

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Germany’s biggest bank beat its core profit target – return on equity of 8% – by 9.4%, as Chief Executive Christian Sewing embarks on a major overhaul in 2019. bank It was a stage he set for.

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“For the past three and a half years, we Deutsche Bank“We have successfully transformed,” Sewing said, after a series of embarrassing and costly regulatory failures to turn Deutsche around. 2018rose to the highest position in

($1 = 0.9074 euros)

Reporting by Tom Sims and Marta Orosz; Edited by Paul Carrel, Rachel More, Janane Venkatraman

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2023-02-02 11:00:58
Source – reuters

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