Deutsche Bank has reported a 10% annual increase in net profit attributable to shareholders, reaching €1.275 billion ($1.365 billion) in the first quarter of 2024. This surpasses the €1.23 billion forecast by analysts. Revenue also grew by 1% to €7.8 billion, driven by gains in commissions, fee income, and fixed income and currencies. Other highlights include net inflows of €19 billion in Private Bank and Asset Management, a decline in credit loss provision to €439 million, and a CET1 capital ratio of 13.4%. The bank’s transformation plan, which aims to cut 3,500 jobs and achieve operational efficiencies of €2.5 billion, remains ongoing.
