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Deutsche Bank beat expectations

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Miguel A. Rodriguez
Miguel A. Rodriguez
17 February 2021
It swung to annual profit despite the pandemic

The largest German lender, Deutsche Bank, reported full-year earnings that beat expectations, showing resilience during the COVID-19 pandemic.

Deutsche Bank posted a full-year net profit of €113 million, while the market was looking for a loss of €201 million. Moreover, it netted a €51 million profit in the fourth quarter compared to the €325 million loss forecasted.

Cost reductions and high revenues helped the bank’s investment banking division to perform well, its net revenues reaching €9.8 billion in 2020, 32% higher than what it reported in the previous year.

The net revenues figures came in at a quarterly level at €5.5 billion, topping the €5.35 billion reported during the same quarter 2019.

For 2021, Christian Sewing, Deutsche’s CEO, is confident that the positive trend will continue despite the challenging times.

Following the news, Deutsche Bank stock price gained 0.86%.

Source: cnbc.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.