Deutsche Bank with highest profit in 15 years
Deutsche Bank posted its highest profit in 15 years in 2022. the pre-tax profit increased by 65 percent over the previous year to around 5.6 billion euros, as Germany’s largest money house announced on Thursday in Frankfurt. The bottom line is that the shareholders of the Dax group accounted for a little more than 5.0 billion euros surplus after 1.9 billion euros a year earlier. The bank also benefited from a positive tax effect in the billions.
“The transformation of Deutsche Bank over the past three and a half years has been a success,” summarized CEO Christian Sewing, who initiated a fundamental reorganization of the group in 2019. Investment banking was cut back and the integration of Postbank into private customer business was pushed ahead. “By focusing on our strengths, we have become significantly more profitable, diversified and efficient,” said Sewing.
The bank even exceeded the return target for 2022, which analysts had long doubted: Die after-tax return reached on the tangible equity 9.4 percent, the Executive Board had aimed for eight percent. For 2025, the Management Board has set itself the goal of achieving a return of more than ten percent. In 2021 it was 3.8 percent.