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Deutsche Bank headquarters in Frankfurt am Main: Despite the profit, the share slips into the red
Photo: Arne Dedert / dpa
After a jump in profits in the first quarter, Deutsche Bank sees itself on course to its return target for 2022. "The good start to the year gives us further confidence that we will achieve our goals for the current year," said CEO Christian Sewing when presenting the interim report.
On the stock exchange, Deutsche Bank shares were among the losers in the Dax, despite the surprisingly high quarterly profit.
Germany's largest money house earned the bottom line in the first quarter 1.06 billion euros - an increase of 17 percent, it was the seventh quarter of profits in a row.
The main source of profit continued to be investment banking, where the bank made money from trading bonds and currencies.
Biggest loser in the Dax
But despite the profit, the Deutsche Bank share lost on the stock exchange: In the morning, the paper slipped around six percent into the red at times, making it the biggest loser in the Dax.
Because the Ukraine war and its economic consequences overshadow the outlook.
"Of course, this has the potential to impact our full-year results in our important benchmark year," Sewing said.
In its quarterly report, the bank warned that the challenges were increasing and that cost pressure had intensified.
CFO James von Moltke explained that the war in Ukraine is causing uncertainty in the global economy, on the financial markets and among customers.
ani/Reuters/dpa
