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Deutsche Bank makes profit on cost cuts, trading income

Germany 2020 pandemic
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FRANKFURT – Deutsche Bank made a profit of 624 million euros ($748 million) during the pandemic year 2020 as bond trading revenues grew and the German bank met its target for cutting costs.

The yearly net profit compared to a loss of 5.26 billion euros in 2019, when earnings were hit by large one-time charges. For the fourth quarter of 2021, the bank made net profit of 189 million euros.

The bank reduced non-interest expenses by 15% to 21.2 billion euros and has cut costs for 12 straight quarters, management said in a statement Thursday.

The cuts are part of a long-term transformation aimed at reducing riskier or less profitable lines of business and refocusing on its European and German client base.

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United States
United States
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India
India
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Deaths: 459 652
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Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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