Frankfurt – The investment bank Deutsche Bank (DBKGn.DE) on Thursday reported a 10% increase in first-quarter earnings that was better than anticipated. The firm’s revenue was driven by deal-making and fixed-income trading.
For the quarter, there was 1.275 billion euros ($1.37 billion) in net profit attributable to shareholders. In line with the 1.158 billion euros in profit from the previous year, this exceeds the roughly 1.2 billion euros in profit that analysts had predicted.
The gains enabled the investment bank to reclaim its position as Deutsche’s biggest breadwinner. Meanwhile, the giant retail division, which recently benefited from higher interest rates, suffered from customer service glitches.
According to the group’s numbers, Deutsche has made money for 15 straight quarters, which is a noteworthy run of success following the company’s severe losses over the previous ten years.
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