Deutsche Bank’s highest net profit since 2007

Deutsche Bank, one of the largest banks in Germany, headquartered in Frankfurt, reached the highest net profit since 2007 with 5.02 billion euros last year.

Deutsche Bank announced its financial results for 2022.

Accordingly, the bank generated a net profit of 5.02 billion euros last year, with the effect of higher interest rates and the tax advantage it provides without revaluation. The number in question was recorded as the highest annual net profit since 2007.

The net income of the Deutsche Bank cluster also rose 7 percent to 27.2 billion euros.

In this middle, it is noteworthy that the bank has announced a profit for 3 consecutive years in the last 11 years.

“We have successfully transformed the bank”

Deutsche Bank’s Chief Executive Officer (CEO), Christian Sewing, stated that they have successfully transformed Deutsche Bank in the past 3.5 years.

Stating that they implemented their restructuring plans in a disciplined manner, Sewing said, “As a result, we are well equipped to provide sustainable growth and returns to the bank’s shareholders in the coming years.”

Deutsche Bank, which is shown as one of the most valuable banks in terms of the global financial system, announced in July 2019 that it would lay off 18,000 employees by 2022 by going through a comprehensive restructuring of 9 billion euros.

Analysts say Deutsche Bank’s growth; He said he was “vulnerable” to a slowing economy, high inflation rates, the Russia-Ukraine war and regulations that have plagued the bank for years.

In the midst of this, Deutsche Bank announced that it will increase the dividend from 0.20 euros to 0.30 euros per share.