Deutsche Bank with best result since 2011

2022-01-27T06:57:56.779Z

Deutsche Bank with best result since 2011 Created: 2022-01-27 07:46 Deutsche Bank significantly increased its profits last year. © Arne Dedert/dpa Deutsche Bank's business is proceeding as planned and is even exceeding expectations in some cases. The restructuring of the group is almost complete. Frankfurt/Main – Deutsche Bank made billions in profit in 2021 and had its best result in ten year

Deutsche Bank with best result since 2011

Created: 2022-01-27 07:46

Deutsche Bank significantly increased its profits last year.

Deutsche Bank's business is proceeding as planned and is even exceeding expectations in some cases.

The restructuring of the group is almost complete.

Frankfurt/Main – Deutsche Bank made billions in profit in 2021 and had its best result in ten years.

The pre-tax profit climbed within a year from a good one billion euros to around 3.4 billion euros, as Germany's largest financial institution announced on Thursday in Frankfurt.

After taxes, the balance sheet stood at 2.5 billion euros, more than four times as much as in the first year of the pandemic.

After deducting interest payments to the holders of certain bonds, the bottom line is a good 1.9 billion euros.

In 2020 as a whole, Deutsche Bank made a profit again for the first time after five years of losses in a row with 113 million euros.

"All four business areas are developing as planned or even better, and we have made faster progress than expected in reducing old stocks," summarized CEO Christian Sewing.

The expected costs of the group restructuring initiated in 2019 have been almost completely digested.

In 2021, the bank also benefited from the fact that it had to set aside significantly less money for possible loan defaults than in the first year of the corona pandemic.