Deutsche Bank posts forecast-beating $1.98 billion profit as revenue rises
Deutsche Bank AG on Thursday said profit rose in the fourth quarter and beat expectations, as revenue climbed and costs were contained after it completed a wideranging restructuring.
The German lender’s DB, +0.82% DBK, +0.34% net profit for the three months to the end of December was 1.80 billion euros , up from EUR145 million for the same period in 2021. On an after-tax measure, it reported EUR1.98 billion, ahead of expectations of EUR1.10 billion, according to a company-provided consensus estimate.
Revenue ticked up 7% on year to EUR6.32 billion, with a 39% growth in net interest income at its corporate banking unit, helped by interest-rate hikes. But that lagged overall revenue expectations of EUR6.50 billion. The quarter was helped by a gain of around EUR310 million on the sale of Deutsche Bank Financial Advisors in Italy, it said.Post-tax return on tangible equity in the quarter was 13.1%, and 9.4% in 2022 overall, meaning the lender surpassed its full-year target of 8%.Write to Ed Frankl at [email protected]
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Deutsche Bank smashes profit expectations in fourth quarter as higher interest rates bolster revenueDeutsche Bank surpassed profit expectations in the fourth quarter, reporting 1.8 billion euro ( $1.98 billion ) of net profit attributable to shareholders, as higher interest rates boosted revenues.
Lire la suite »
German Retail Sales plummet 6.4% YoY in December vs. -4.3% expectedAccording to the official figures released by Destatis on Tuesday, Germany's Retail Sales plunged by 5.3% MoM in December versus 0.2% expected and 1.1
Lire la suite »
German retail sales post surprise plunge in December amid rising pricesGerman retail sales unexpectedly fell in December as a Christmas shopping period weighed down by high inflation and the energy crisis revived fears of a more marked slowdown in Europe's largest economy, data showed on Tuesday.
Lire la suite »
Saskatchewan government to open German trade officeThis will be Saskatchewan’s ninth trade office as the province looks to tap more international investment.
Lire la suite »
EUR/USD slides to 1.0850 as German/US data intensifies ECB vs. Fed battleEUR/USD renews intraday bottom around mid-1.0800s as it reverses the previous day’s recovery moves during early Wednesday. In doing so, the major curr
Lire la suite »
German police arrest woman for allegedly murdering doppelgänger to fake her own death | CNNGerman police have arrested a woman on suspicion of murdering a doppelgänger she sought out online in order to fake her own death.
Lire la suite »