Council of the quarter: leap in profits for Deutsche Bank at the start of the year

Joint leap for Deutsche Bank at the start of the year: Both the input tax and the surplus were 39 percent better than a year earlier in the traditional first quarter – thanks to better business in all areas of the corporate and further savings.

“We have reached the highest quarter of the quarterly gain in 14 years through earnings growth and lower costs,” said CEO Christian Sewing with a view to the input tax gain of a good 2.8 billion euros. The bottom line was that the shareholders of the Frankfurt Dax Group had a profit of around 1.8 billion euros – also 39 percent more than a year earlier.

Profit -bearer investment bank

The lion’s share contributed the investment banking, in which Deutsche Bank, for example, completed the business with acquisitions and IPO. The division contributed around 3.4 billion euros to the income risen to a good 8.5 billion euros. The investment bank’s input tax climbed by a fifth to 1.5 billion euros compared to the same period last year.

Job reduction and branch closures

At the same time, the board of directors enters the brakes at the costs. According to the information, around 85 percent has now been achieved of 2.5 billion euros. Deutsche Bank had announced that it would delete about 2,000 jobs in the current year and to further reduce the number of its branches. At the end of March, the number of employees in full -time positions was expected at 89,687. That was 636 less than a year earlier.

CEO Sewing announced a new renovation program at the end of January entitled “Deutsche Bank 3.0”. This is how management sees potential to reduce costs through slimmer hierarchies and more use of artificial intelligence. Sewing wants to make the bank more efficient: In 2025, the return on equity is to increase to more than 10 percent after 4.7 percent last year. In the first quarter of the current year, a value of 11.9 percent was achieved.