Deutsche Bank posts record profit of 2.5 billion euros

Deutsche Bank, the largest financial institution in Germany, achieved a record 10-year net profit of 2.5 billion euros in 2021

Deutsche Bank, the largest financial institution in Germany, achieved a record 10-year net profit of 2.5 billion euros in 2021, the bank said in a statement.

Qazet.az informs citing TASS that profit before tax last year amounted to 3.4 billion euros, almost three times more than the previous year. Net profit reached 2.5 billion euros, more than four times higher than in 2020 and the highest since 2011. In the fourth quarter of last year, this figure before tax was 82 million euros, halving compared to the same period in 2020.

"In 2021, we quadrupled our net profit and achieved the best result in the last 10 years <...>. We are pleased to resume the distribution of capital among our shareholders, as we promised in the summer of 2019," said the head of Deutsche Bank Christian Zewing. According to him, "Progress in the transformation of the financial institution and financial performance in 2021 provides a reliable starting point to achieve a return on fixed capital of 8% in 2022."

Deutsche Bank is one of the largest multinational banks. It has offices in more than 70 countries around the world. There are about 500 branches of Deutsche Bank in Germany.