The Deutsche Bank has managed to 2018, after three years of losses in a row back in the black. As the largest German money house announced on Friday in Frankfurt, was the result below the line, at 341 million euros.
In the past year, the Institute had suffered a net loss of 735 million euros. The ten months of the incumbent chief Executive, Christian Sewing, expressed himself satisfied: “The return to the profit zone shows that Deutsche Bank is on the right path.”
Now, the key is to do the next steps: “We will reduce in 2019 the cost and at the same time invest in growth. So, we will increase our profitability beyond the current year substantially.” The job cuts until the end of the year, it is still considerably less than 90’000 German banker the course schedule.
Also on the cost side, Sewing sees success and is ambitious. This year the costs are expected to fall to 21.8 billion euros. 2018, the adjusted cost stood at 22.8 billion Euro, which is below the target of 23 billion.
The shareholders will receive a stable dividend of 11 cents per share. In the past years, the Institute had distributed to the shareholders, each only a meager compulsory dividend.
turmoil in the financial markets
Like other large institutions, Deutsche Bank suffered in the fourth quarter, the turmoil in the financial markets, and in contrast to the main US competitors in the red. The Minus amounted to a net of 409 million euros.
especially the trade with securities, once one of the Prime disciplines of the Frankfurt – weakened. Here, a decrease in the yields of 23 percent to 786 million euros.
The investment banking as a whole, which includes, in addition to the trading securities is also the consulting business in mergers and Acquisitions, and the accompaniment of the customer in the case of IPOs, suffered for the full year declined considerably. The income fell by more than a billion euros to around 13 billion euros. Before tax 530 million euros remain. In 2017, the tax had been your result of 1.1 billion euros.
Also in asset management, it delivery round for the Deutsche Bank. Here is the result of 732 halved to EUR 367 million. The Private and corporate customer business, in which Postbank is included, however, could keep the revenues stable and earnings from 465 to 829 million Euro.
Deutsche Bank is not, for years, out of the crisis. In 2015, the former Chairman of the Board John Cryan, who had to take last April, his hat had reported a record loss of 6.7 billion euros.
in 2016, was the Minus a billion penalty in the United States at 1.4 billion euros. In 2017, the US tax reform, which had led the German Bank to a strain of 1.4 billion euros, had prevented, then make a profit. Without this effect, Cryan had a positive result in the amount of 900 million euros. (Dec/sda)
Created: 01.02.2019, 09:18 PM
