Deutsche Bank’s attributable net profit fell 8% until September compared to the same period last year, to €2,951 million, due to increased costs and taxes and despite the positive impact of the rise in interest rates.
As announced this Wednesday by the largest German private bank, net income increased, between January and September, to 22,221 million euros (+6%), especially in corporate banking (+27%) and private banking (+8%).
However, revenue fell in investment banking (-12%) and asset management (-10%).
“These results demonstrate sustained business growth and continued cost discipline,” said Deutsche Bank CEO Christian Sewing during the earnings presentation.
Sewing believes that Deutsche Bank has improved its capital prospects thanks to its strong results and capital efficiency measures, which will allow it to increase shareholder returns.
In the first nine months of the year, provisions for doubtful loans increased by 16.2% year-on-year, up to 1,017 million euros.
At the end of September, Deutsche Bank had a Tier 1 capital ratio (CET1) of 13.9%, up from 13.3% last year, and an efficiency ratio of 72.4% (71.6% a year before).
Source: TSF
