Deutsche Bank makes profit again

Deutsche Bank makes profit again

As expected, the biggest German financial institution returned to the black in 2018 after three consecutive years of losses. Despite the profit, the dividend should not be raised. As the Deutsche Bank in Frankfurt announced, the consolidated profit was 341 million euros. Last year, the institute suffered a net loss of 735 million euros. CEO Christian Sewing (article

As expected, the biggest German financial institution returned to the black in 2018 after three consecutive years of losses. Despite the profit, the dividend should not be raised.

As the Deutsche Bank in Frankfurt announced, the consolidated profit was 341 million euros. Last year, the institute suffered a net loss of 735 million euros. CEO Christian Sewing (article image) expressed his satisfaction: “The return to the profit zone shows that Deutsche Bank is on the right path.”

Now it is time to take the next steps: “We will continue to cut costs in 2019 and invest in growth at the same time, which will substantially increase our profitability beyond the current year.” The job cuts – by the end of the year there are only clearly less than 90,000 Deutschbankers – are running according to plan. Despite the profit, the shareholders should only receive a stable dividend of 11 cents per share.

Loss in the fourth quarter

Despite the positive numbers: Like other large institutions, Deutsche Bank suffered in the fourth quarter from the turmoil on the financial markets and slipped into the red. The minus amounted to net 409 million euros. Especially the trading of securities weakened. Here is a minus of 23 percent to 786 million euros to book.

Deutsche Bank has not come out of the crisis for years . In 2015, the then CEO John Cryan reported a record loss of 6.7 billion euros. In 2016, the minus was 1.4 billion euros because of a billion-dollar fine in the US. In 2017, the US tax reform, which led to a charge of 1.4 billion euros at Deutsche Bank, then prevented a profit. Without this effect, Cryan, who had to take his hat off in April 2018, would have posted a positive result of 900 million euros.

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