4/26, 7:03 AM (Source: TeleTrader)
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Deutsche Bank's Q1 net income surges 67% to €201M

Deutsche Bank reported on Friday its total net revenues in the first quarter of 2019 fell 9% year on year to €6.4 billion, while net income surged 67% to €201 million in the same period, thus topping analysts' estimates. The lender's pre-tax income in the first quarter of the current year stood at €292 million, plunging 32% year on year.

Corporate and investment bank net revenues were €3.3 billion, down 13% from the same quarter a year ago. Private and commercial bank revenues dipped 5% to €2.5 billion, while asset management revenues fell 4% to €525 million on an annual basis.

"Our first-quarter results demonstrate the strength of our franchise and our continued progress in executing our plans in a very challenging market environment. We have made progress on key business drivers: growth in loans and deposits, a recovery in assets under management and market share improvements in corporate finance," CEO Christian Sewing stated.

Breaking the News / NP