4/27/2022, 7:00 AM (Source: TeleTrader)
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Deutsche Bank's net profit up 18% to €1.2B in Q1

Deutsche Bank said on Wednesday that its profit in the first quarter of 2022 stood at €1.2 billion, rising 18% year on year.

Profit before tax climbed 4% to €1.7 billion, while total quarterly net revenues amounted to €7.3 billion, up 1% from the same period in 2022. The bank's cost/income ratio was 73%, falling from 77% recorded in the first quarter last year.

"In this quarter, we showed our strength and resilience as the Global Hausbank," CEO Christian Sewing stated. "Our priority was to enable clients to respond quickly to geo-political events and guard against risks. All our businesses delivered results in line with or ahead of our targets, and we produced our highest quarterly profit for nine years," he added.

Baha Breaking News (BBN) / NP