Deutsche Bank Sees Q1 Profits on Investment Bank Strength
Deutsche Bank saw an above-analyst-expectations net profit in the first quarter of 2021 as strong investment bank performance helped offset the restructuring programme and the COVID-19-pandemic-caused slow-down.
The German lender said on Wednesday that its first-quarter net profit attributable to shareholders was 908 million euros, as opposed to a year-earlier loss of 43 million euros. Analysts had expected a profit of almost 600 million euros.
This has so far been the strongest quarter for the German lender since the first quarter of 2014, as revenue at its fixed-income trading business and origination and advisory services surged.
Questions on the sustainability of this investment banking boom still remain, but analysts expect Deutsche to deliver another profit in 2021.
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