Business

Deutsche Bank earnings up in 1st quarter but revenues drop

Posted April 26, 2019 7:00 am

The Associated Press

BERLIN (AP) - Deutsche Bank says it saw its profit improve by 67 percent in the first quarter, though revenue dropped 9 percent as proceeds from trading declined sharply.

Germany's biggest bank reported details of its January-March earnings on Friday, a day after it abandoned talks on a possible merger with German peer Commerzbank.

The company said net profit was 201 million euros ($224 million), compared with 120 million euros a year earlier.

Revenues dropped to 6.35 billion euros from 6.98 billion euros. The bank said revenues from fixed income sales and trading were off 19 percent at 1.5 billion euros, while those from equity sales and trading dropped 18 percent to 468 million euros.

CEO Christian Sewing said that "our continued cost discipline helped us to offset lower revenues."

Article Comments

Article Categories
Business Content Providers Nation and World News

Article Comments

Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.