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Deutsche Bank posts biggest annual profit in nearly two decades a day after police search
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The Business Times
The biggest profit since 2007 is a welcome milestone for the bank after a rocky decadeDeutsche Bank said it had authorised one billion euros in buybacks.
PHOTO: REUTERS[FRANKFURT] Deutsche Bank on Thursday (Jan 29) posted its largest annual profit since 2007 after a stronger-than-expected fourth quarter, a day after police searched the bank in an alleged money-laundering probe.
That is above 2.7 billion euros a year earlier and slightly ahead of analyst expectations of nearly six billion euros.
“This gives us the strongest possible foundation for the next phase of our strategy,” said Deutsche Bank CEO Christian Sewing.
For 2026, the bank expects revenues to grow to around 33 billion euros, up from 32.1 billion euros.