The Strategist

Deutsche Bank's net profits soar by almost 30 times

10/27/2021 - 10:23

Deutsche Bank, Germany's largest bank, saw its net profit attributable to shareholders rise almost 30-fold between January and September, to €1.794 billion, after a profit of €62 million a year earlier, the bank said in its financial statements.

jwalsh via flickr
jwalsh via flickr
Meanwhile, pre-tax profit quadrupled to €3.308 billion in the first nine months, after a profit of €846 million a year earlier. Diluted earnings per share for the nine months stood at €0.81, compared with a nil loss a year earlier. Revenues amounted to €19.51 billion, up 5 percent from a year ago.

Net profit attributable to shareholders for the third quarter rose by 7% year on year to €194 million. Pre-tax profit for the third quarter increased by 15% to €554 million. 

Diluted earnings per share for the quarter rose to €0.14 from €0.13 a year earlier. The bank's revenues rose 2% year on year to €6.04 billion, against a forecast of €5.81 billion.

Deutsche Bank is Germany's largest bank by assets, founded in 1870.