The largest German money house has written in 2018, after three years of losses in a row as hoped back in the black. Despite the profit, the dividend will not be raised.
As the German Bank said in Frankfurt, the consolidated profit of 341 million euros. In the past year, the Institute had suffered a net loss of 735 million euros. Chief Executive, Christian Sewing (article image) expressed satisfaction: “The return to the profit zone shows that Deutsche Bank is on the right path.”
Now it is going to do the next steps: “We will reduce in 2019 the cost and at the same time invest in growth. So, we will increase our profitability beyond the current year substantially.” The job cuts until the end of the year, it is still significantly less than 90,000 German banker the course schedule. The shareholders should get, in spite of the profit is only a stable dividend of 11 cents per share.
Loss in the fourth quarter
Despite the positive Numbers: Like other large institutions, Deutsche Bank suffered in the fourth quarter, the turmoil in the financial markets, and slipped in the red. The Minus amounted to a net of 409 million euros. Especially the trade with securities weakened. Here, a decrease of 23 percent to 786 million euros.
Deutsche Bank is not, for years, out of the crisis. In 2015, the former Chairman of the Board John Cryan had reported a record loss of 6.7 billion euros. In 2016, the Minus was due to a billion penalty in the United States at 1.4 billion euros. In 2017, the US tax reform, which led Deutsche Bank to a load of 1.4 billion euros, had prevented, then make a profit. Without this effect, Cryan, who had to take in April of 2018, his hat would have been retracted, a positive result in the amount of 900 million euros.
pg/sti (dpa, rtr)