Deutsche Bank Q1 Profit, Net Revenues Rise

(RTTNews) - German banking major Deutsche Bank AG (DB) reported Thursday that its first-quarter profit attributable to shareholders grew 10 percent to 1.28 billion euros from last year's 1.16 billion euros. Earnings per share improved to 0.69 euro from 0.61 euro in the prior year quarter.

Deutsche Bank reported 10 percent year-on-year growth in profit before tax to 2.04 billion euros in the first quarter of 2024.

Net revenues grew 1 percent to 7.78 billion euros from last year's 7.68 billion euros, primarily driven by growth of 11 percent in commissions and fee income.

Net revenues went up 3 percent overall in the bank's four operating businesses.

Christian Sewing, Chief Executive Officer, said, "As promised, we delivered on our cost target and we are determined to maintain this discipline. Our strong capital base enables us to increase distributions to shareholders while supporting business growth. On all dimensions, we are firmly committed to continued delivery on our path towards our 2025 goals."

Further, Deutsche Bank said for its Annual General Meeting on May 16, the Management Board and the Supervisory Board have proposed the payment of a cash dividend of 0.45 euro per share in respect of the financial year 2023, up 50 percent over 2022.

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