Deutsche Bank: Q1 net profit jumps

(CercleFinance.com) - On Wednesday Deutsche Bank announced a leap in its Q1 net profit, mainly thanks to the good performance of its investment banking division (CIB).


The largest German bank this morning reported a quarterly net profit of one billion euros, against just 66 million euros a year ago, a performance that largely outpaced market expectations.

This is the best quarterly profit it has announced in seven years.

In its statement, the group said that its provisions for credit losses were limited to 69 million euros over the quarter, which represents a 86% decrease compared to the 506 million euros of the first quarter of 2020.

In other good news, Deutsche Bank announced a dividend accrual of 300 million euros.

This opinion is clearly shared by investors, which has resulted in Deutsche Bank shares increasing by over 5% on Wednesday morning in Frankfurt.


Copyright (c) 2021 CercleFinance.com. All rights reserved.