Deutsche Bank posts 39% rise in first-quarter profit

[FRANKFURT] Deutsche Bank on Tuesday posted a 39 per cent rise in first-quarter profit after its global investment banking division generated a big increase in revenue in bond and currency trading during volatile markets.

Deutsche, Germany’s largest lender, recorded net profit attributable to shareholders of 1.78 billion euros (S$2.66 billion) in the quarter, up from 1.28 billion euros a year earlier.

It was higher than analysts’ expectations for a profit of around 1.64 billion euros.

The figures kick off a crucial year for Deutsche as it winds up a three-year plan and attempts to meet a series of targets that some analysts deem overly ambitious.

The results “put us on track for delivery on all our 2025 targets”,” CEO Christian Sewing said. REUTERS