The German banking giant Deutsche Bank published this Wednesday a net profit of 1,060 million euros in the first quarter, the best in nine years, thanks to the savings generated by its strong restructuring.
Global earnings of 7.3 billion euros reflected an increase of 1% annually, and 3% in the activities that focus its business, driven by corporate clientele.
The result subject to taxes was 1.66 billion euros and is in line with what analysts were expecting.
The result was mainly due to the performance of the investment bank, whose profit rose 7% year-on-year to 3.3 billion euros. The taxable result was 1.5 billion euros (+1%).
In the previous quarter “the emphasis was placed on our clients’ ability to adapt as quickly as possible to the new geopolitical situation and to protect themselves from risks”, he commented. Christian SewingCEO of the German bank, in a statement.