Christian Sewing (Lapresse)
Deutsche Bank: net profit quadrupled in 2021, top since 2011
Deutsche Bank closes 2021 with a net profit that grew by more than 4 times compared to the previous year to 2.5 billion euros, the highest value since 2011, while pre-tax profit triples to 3.4 billion. On the other hand, the adjusted pre-tax profit doubled to € 4.8 billion. The effects linked to the transformation plan of 456 million, however, weigh on the pre-tax profits of the fourth quarter, which stop at 82 million. The group announces its intention to distribute approximately 700 million of capital to shareholders.
Deutsche Bank, Christian Sewing: “Our net profit quadrupled”
Commenting on the results Christian Sewing, Chief Executive Officer of Deutsche Bank, underlines how in 2021 the group “left behind almost all of the expected transformation costs. All four of our core businesses have performed in line with or even better than the plans and the reduction of legacy assets has progressed faster. expected”. In 2021 “we quadrupled our net profit and achieved our best result in the last ten years, leaving almost all of the expected transformation costs behind us”. “We are delighted to return to distributing capital to our shareholders as we promised in the summer of 2019. Our transformation progress and 2021 financial results provide a solid foundation for achieving our goal of a return on tangible equity by 8. % in 2022 “concludes Sewing.
Read also
Stellantis: rises to 75% in partnership with Gac in China
Le Monde: Pigasse sells 49% to the owner of Iliad
Understood, ok to Messina-Gros Pietro. But Profumo wants more internationalization
#Deutsche #Bank #profit #billion #highest